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Gold Slides On Muted Demand

Gold prices fell by Rs 190 to Rs 32,000 per 10 gram at the bullion market Monday, owing to slackened demand from local jewellers amid a weak trend overseas. On the other hand, silver prices remained steady at Rs 38,400 per kg in restricted activity. Traders said tepid demand from local jewellers and retailers at domestic spot markets due to end of wedding season and a weak trend overseas, mainly weighed on the precious metal prices.

Globally, gold fell 0.07 per cent to USD 1,238.20 an ounce, while silver traded a shade higher at USD 14.64 an ounce in Singapore. In the national capital, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 190 each to Rs 32,000 and Rs 31,850 per 10 gram, respectively. It had lost Rs 30 on Saturday.

Sovereign gold, however, remained steady at Rs 25,000 per piece of 8 gram. Silver ready remained flat at Rs 38,400 per kg, while silver weekly-based delivery declined by Rs 124 to Rs 37,930 per kg. Silver coins remained unchanged at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces. 

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