Gold prices fell by Rs 40 to Rs 27,630 per 10 grams at the
bullion market today as demand from jewellers and retailers eased at current
levels even as the precious metals strengthened overseas. However, silver
climbed by Rs 600 to Rs 38,700 per kg on increased offtake by industrial units
along with higher global trend. Traders said slackened demand from jewellers
and retailers at prevailing levels mainly led to the decline in gold prices.
However, a firming trend in global markets where gold rose by 0.5 per cent to
USD 1,227.10 an ounce in New York, restricted the fall. In the national
capital, gold of 99.9 and 99.5 per cent purity declined by Rs 40 each to Rs
27,630 and Rs 27,430 per 10 grams, respectively.
Sovereign followed suit and
lost Rs 100 at Rs 23,700 per piece of eight grams. On the other hand, silver
ready spurted by Rs 600 to Rs 38,700 per kg after the white metal surged three
per cent to USD 17.29 an ounce in New York yesterday. Silver weekly-based
delivery also rose by Rs 545 to Rs 38,185 per kg. Globally, silver spurted by
three per cent to USD 17.29 an ounce. However, silver coins plunged by Rs 1,000
to Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces on fall in
demand.- RSS
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Saturday 14 February 2015
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