Gold declines by Rs 50 on poor demand; silver advances
Gold prices today fell by Rs 50 to Rs 19,350 per ten gram in the bullion market here on lack of buying support at existing higher levels.business Updated: Sep 20, 2010 16:06 IST
Gold prices today fell by Rs 50 to Rs 19,350 per ten gram in the bullion market here on lack of buying support at existing higher levels.
Silver, however, edged up by Rs 20 to Rs 32,670 per kg on buying by industrial units.
Marketmen said jewellers and stockists postponed their purchases as gold is ruling at record high levels.
Trading sentiment remain weak despite firming trend in international markets, which normally set prices on the domestic front here, they said.
The gold of 99.9 and 99.5 per cent purity fell by Rs 50 each at Rs 19,350 and Rs 19,250 per ten gram respectively while sovereign held unchanged at Rs 15,200 per piece of eight gram in scattered small deals.
Silver ready gained Rs 20 to Rs 32,670 per kg while weekly-based delivery declined by Rs 15 to Rs 32,260 per kg. Silver coins continued to be asked at previous levels of Rs 35,100 for buying and Rs 35,200 for selling of 100 pieces.