Gold prices fall by Rs 135 on weak demand
New Delhi-India (Aug 5) Gold prices fell by Rs 135 to Rs 28,390 per 10 grams while silver held steady at Rs 45,000 per kg.
Snapping its four-day rising streak, gold prices fell by Rs 135 to Rs 28,390 per 10 grams in the national capital on Tuesday on fall in demand at prevailing higher levels amid a weak global trend. However, silver held steady at Rs 45,000 per kg on some support.
Traders said besides fall in demand at prevailing higher levels, weak global trend led to the fall in gold prices.
Gold in New York, which normally sets price trend on the domestic front, fell 0.46 per cent to $1,288.20 an ounce and silver by 0.84 per cent to $20.13 an ounce in Monday’s trade.
In Delhi, gold of 99.9 and 99.5 per cent purity dropped by Rs 135 each to Rs 28,390 and Rs 28,190 per 10 grams, respectively. It had gained Rs 325 in the previous four sessions.
Sovereign also declined by Rs 100 to Rs 24,700 per piece of eight grams.
On the other hand, silver ready held steady at Rs 45,000 per kg while weekly-based delivery lost Rs 490 at Rs 44,090 per kg on lack of buying support from speculators.
Silver coins, however, continued to be asked at last level of Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.