Gold price softens to Rs 32,285; silver down by Rs 100 per kg

New Delphi-India (May 14)  Gold prices softened by Rs 115 to Rs 32,285 per ten gram due to sluggish demand from local jewellers even as overseas trend firmed up. Silver also eased by Rs 100 to Rs 41,300 per kg due to reduced offtake by industrial units and coin makers.

Traders said easing demand from local jewellers and retailers at current levels led to the decline in gold prices, though a firm trend overseas capped the fall. Globally, gold rose 0.20 per cent to $1,320.50 an ounce and silver by 0.15 per cent to $16.67 an ounce in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell Rs 115 each to Rs 32,285 and Rs 32,135 per ten gram, respectively. Sovereign however remained unaltered at Rs 24,800 per piece of eight gram.

Following gold, silver ready traded lower by Rs 100 to Rs 41,300 per kg and weekly-based delivery by Rs 70 to Rs 40,470 per kg. Silver coins however held steady at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

BusinessLine