Gold prices dip on sluggish buying by jewellers

December 7, 2018

Mumbai-India (Dec 7)  Gold prices on Friday slipped by ₹20 to close at ₹32,100 per 10 gram in the bullion market here due to subdued buying by local jewellers.

Silver, on the other hand, gained ₹75 to close at ₹37,700 per kg on higher demand from industrial units and coin makers.

Traders said subdued demand from local jewellers amid flat global market pulled down gold prices.

In the national capital, gold of 99.9% and 99.5% purities fell by ₹20 each to close at ₹32,100 and ₹31,950 per 10 gram, respectively.

However, sovereign gold held steady at ₹24,900 per piece of 8 gram.

Globally, gold remained almost flat at USD 1,238.80 an ounce and silver was near unchanged at USD 14.44 an ounce in New York on Thursday.

Meanwhile, silver ready rose by ₹75 to ₹37,700 per kg, while weekly-based delivery fell by ₹44 to ₹37,206 per kg.

Silver coins, however, maintained the previous levels at ₹73,000 for buying and ₹74,000 for selling of 100 pieces.


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