Gold price falls to Rs 31,175; silver ends steady at Rs 41,000 per kg

Mumbai-India (June 20)  Gold fell Rs 185 to Rs 31,715 per ten gram on muted demand from local jewellers amid a weak global trend. Silver however ended steady at Rs 41,000 per kg on scattered demand from industrial units and coin makers.

Traders said apart from weak global cues, drop in demand from local jewellers and retailers at the domestic spot market was a big drag.

Globally, gold fell 0.11 per cent to $1,273.21 an ounce, while silver edged up 0.10 per cent to $16.32 an ounce in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity slipped by Rs 185 each to Rs 31,715 and Rs 31,565 per ten gram, respectively. The precious metal had gained Rs 100 yesterday. Sovereign however remained flat at Rs 24,800 per piece of eight gram.

On the other hand, silver ended steady at Rs 41,000 per kg on scattered demand, while weekly-based delivery fell by Rs 275 to Rs 39,730 per kg on offerings by stockists. Silver coins continued to be traded at the previous level of Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

BusinessLine