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Gold, silver slip on reduced demand
Gold prices slipped by Rs 180 per 10 grams at the bullion market here today, snapping its 2-day rising streak following reduced demand from stockist and retailers despite recovery in global cues.
By
migrator
migrator
Mumbai
Elsewhere, silver too dropped further by Rs 540 per kg due to subdued offtake by industrial units.
Standard gold (99.5 purity) fell by Rs 180 to end at Rs 30,305 per 10 grams from last Friday's level of Rs 30,485.
Pure gold (99.9 purity) also moved down by the similar margin to close at Rs 30,455 per 10 grams as compared to Rs 30,635 previously.
Silver (.999 fineness) dropped by Rs 540 per kg to finish at Rs 38,730 as against Rs 39,270 last Friday.
Globally, gold edged up, clawing back some lost ground after posting its biggest one-day loss in two months in the previous session as a softer tone to the dollar took some pressure off the metal.
Spot gold was at USD 1,336.15 an ounce in early European trade, up but well below late-January's 17-month high of USD 1,366.07.
Spot silver was up at USD 16.80 an ounce, having earlier matched the previous session's five-week low of USD 16.54.
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