New Delhi: Gold prices on Wednesday fell by Rs 115 to Rs 33,210 per 10 gram at the bullion market, tracking a weak trend overseas and tepid demand from local jewellers, according to the All India Sarafa Association.
Silver, however, staged a strong recovery of Rs 310 to Rs 40,160 per kg due to increased offtake by industrial units and coin makers.
Traders attributed the decline in gold prices to a weak trend overseas and muted demand from jewellers at the domestic markets.
Globally, gold fell 0.11 percent to $1,284.30 an ounce but silver rose 0.16 percent to $15.43 an ounce in New York.
In the national capital, gold of 99.9 percent and 99.5 percent purity moved down by Rs 115 each to Rs 33,210 and Rs 33,060 per 10 gram, respectively. The precious metal had gained Rs 125 on Tuesday.
Sovereign gold, however, remained flat at Rs 25,500 per piece of eight gram.
Meanwhile, silver ready bounced back by Rs 310 to Rs 40,160 per kg and weekly-based delivery by Rs 311 to Rs 39,1987 per kg.
Silver coins, however, held flat at Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.
To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day.
To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.
The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
Updated Date: Jan 23, 2019 14:40:34 IST