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Gold buyers fear

Snapping a three-day rise, gold prices fell 100 to Rs. 29,200 per 10 grams due to weak global cues and lower spot demand.

Silver also declined Rs. 200 to Rs. 39,300 per kg owing to lower demand from industrial units and coin makers.

According to traders, there was subdued demand for the yellow metal at the domestic spot market.

Globally, gold fell 0.16 per cent to $1,243.40 an ounce and silver by 0.27 per cent to $16.54 an ounce in Singapore.

In Delhi, gold of 99.9 per cent and 99.5 per cent purity softened by Rs. 100 each to Rs. 29,200 and Rs. 29,050 per 10 grams, respectively. The precious metal had gained Rs. 200 in the previous three sessions.

Sovereign, however, remained flat at Rs. 24,400 per piece of eight grams. Silver ready fell Rs. 200 to Rs.39,300 per kg and weekly-based delivery by Rs. 390 to Rs. 38,485 per kg.

Silver coins continued to be traded at the previous level of Rs. 72,000 for buying and Rs. 73,000 for selling of 100 pieces.




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