Gold, silver fall on sluggish demand at higher levels

NEW DELHI-INDIA (July 21) Both the precious metals, gold and silver, fell Saturday in the national capital today on reduced offtake by stockists at prevailing higher levels.

While gold declined by Rs 10 to Rs 27,290 per ten grams, silver lost Rs 205 at Rs 40,525 per kg on reduced offtake by jewellers and industrial units.

Marketmen said sluggish demand at prevailing higher levels mainly kept gold prices under pressure.

They said silver was down on reduced offtake by jewellers and industrial units, awaiting more correction in prices.

On the domestic front, golf of 99.9 and 99.5 per cent purity declined by Rs 10 each to Rs 27,290 and Rs 27,090 per ten grams, respectively. It had gained Rs 275 yesterday. Sovereign held steady at Rs 24,250 per piece of eight gram.

Silver ready fell by Rs 205 to Rs 40,525 per kg and weekly-based delivery by Rs 230 to Rs 40,360 per kg, respectively. The white metal had gained Rs 295 in the previous session.

Silver coins continued to be asked around previous level of Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.