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HindustanTimes Wed,16 Apr 2014

Gold declines for fifth day on sluggish demand

PTI  New Delhi, January 30, 2013
First Published: 16:31 IST(30/1/2013) | Last Updated: 16:36 IST(30/1/2013)

Gold prices maintained downtrend for the fifth straight day by losing Rs. 20 to Rs. 30,980 per ten grams in the national capital on Wednesday on sustained selling by stockists on sluggish demand.

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However, silver recovered by Rs. 500 to Rs. 58,500 per kg on industrial units and coin makers buying at prevailing lower levels. The metal had lost Rs. 1,750 in last four days.

With the five days of losses, including Wednesday, gold dropped by Rs. 405 as stockists remained net sellers against falling demand.

Gold of 99.9 and 99.5% purity remained weak and shed Rs. 20 each at Rs. 30,980 and Rs. 30,780 per ten grams respectively. Sovereign fell by Rs. 100 to Rs. 25,300 per piece of eight gram.

On the other hand, silver ready recovered by Rs. 500 to Rs. 58,500 per kg and weekly-based delivery by Rs. 490 to Rs. 58,215 per kg.

However, silver coins continued to see activity at around previous level of Rs. 82,000 for buying and Rs. 83,000 for selling (100 pieces).

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