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Gold, silver turn weak on lacklustre demand
Gold prices turned weak at the bullion market here today on slackened demand from jewellers and retailers even as the metal strengthened overseas.
By
migrator
migrator
Mumbai
Silver, too, declined by Rs 70 per kg -- a sign of softness in orders from industrial units.
Standard gold (99.5 per cent purity) fell by Rs 30 to finish at Rs 31,295 per 10 grams from Wednesday's closing level of Rs 31,325.
Pure gold (99.9 per cent purity) also moved down by the same amount to close at Rs 31,445 per 10 grams from Rs 31,475 earlier.
Silver (.999 fineness) slipped by Rs 70 per kg to conclude at Rs 39,405 as against Rs 39,475 yesterday.
Globally, gold prices hovered near five-week lows as higher US bond yields and a stronger dollar dampened interest in bullion.
Spot gold was up 0.1 per cent at USD 1,324.95 an ounce at early trade.
In other precious metals, silver was up 0.4 per cent at USD 16.59 an ounce.
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