Gold, silver fall on easing demand, global cues

Mumbai-India (Nov 17)  Gold prices today declined by Rs 90 to Rs 26,760 per ten grams in the national capital after the demand from jewellers and retailers eased at prevailing levels amid a weak trend overseas.

Silver also fell by Rs 200 to Rs 36,500 per kg on reduced offtake by industrial units and coin makers.

Traders said fall in demand at prevailing higher levels from jewellers and retailers and a weak trend in global markets mainly kept pressure on precious metal prices.

Gold prices fell by 0.19 per cent to USD 1186.30 an ounce in early trading in the global market. Silver too eased by 1.62 per cent to USD 16.06 an ounce.

In Delhi, gold of 99.9 and 99.5 per cent purity declined by Rs 90 each to Rs 26,760 and Rs 26,560 per ten grams respectively.

Sovereign, however, held steady at Rs 23,800 per piece of eight gram.

In line with a general weak trend, silver ready traded lower by Rs 200 to Rs 36,500 per kg but weekly-based delivery edged up by Rs 125 to Rs 36,155 per kg on speculative buying.

On the other hand, silver coins ruled steady at Rs 60,000 for buying and Rs 61,000 for selling of 100 pieces.

Source: FinancialExpress