Gold slumps Rs 80 per 10 gm on weak demand

New Delhi (April 4)   Gold prices on Thursday fell by Rs 80 to Rs 32,670 per 10 gram at the bullion market here due to subdued demand from jewellers, according to the All India Sarafa Association.

Silver too declined by Rs 90 to Rs 38,330 per kg on low offtake by industrial units and coin makers

Traders said reduced demand from local jewellers as well as retail buyers led to the downtrend in old prices.

In the international market, spot gold was trading at USD 1,293.26 an ounce, while silver was trading at USD 15.15 an ounce in New York On Wednesday, the yellow metal had declined by Rs 100.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 80 each to Rs 32,670 and Rs 32,500 per 10 gram, respectively. However, sovereign gold held steady at Rs 26,400 per piece of eight gram.

Silver ready fell by Rs 90 to Rs 38,330 per kg, while weekly-based delivery rose by Rs 45 to Rs 37,465 per kg. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

TheAsianAge

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