Gold extends losses, down Rs 90 on sluggish demand

Traders said slackened demand from jewellers and retailers and absence of cues from the global markets as US market are closed today on account of 'Labor Day', kept pressure on gold prices.

Besides, diversion of funds towards the record-breaking equity market also weighed on gold prices, they said.

In Delhi, gold of 99.9 and 99.5 percent purity remained under pressure and shed another Rs 90 each to Rs 28,175 and Rs 27,975 per ten gram respectively. It had lost Rs 35 on Saturday's trade.

Sovereign, however, remained steady at Rs 24,600 per piece of eight gram.

On the other hand, silver ready recovered by Rs 25 to Rs 42,800 per kg and weekly-based delivery by Rs 90 to Rs 42,140 per kg. The white metal had lost Rs 225 in the previous session.

Silver coins continued to be asked at last level of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.

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Gold ends lower on sluggish demand; silver eases

Traders said fall in demand from jewellers and retailers at existing levels mainly led to the fall in gold prices but a better trend overseas restricted losses.

Gold in Singapore, which normally sets price trend on the domestic front, added 0.3 percent to USD 1,284.83 an ounce.

In Delhi, gold of 99.9 and 99.5 percent purity met with resistance at current levels and drifted by Rs 85 each to Rs 28,175 and Rs 27,975 per ten gram respectively. It had gained Rs 230 on Tuesday.

Sovereign, however, remained steady at Rs 24,600 per piece of eight gram in limited deals.

In a similar fashion, silver ready turned weak and ended Rs 300 lower at Rs 42,700 per kg and weekly-based delivery by Rs 145 to Rs 42,050 per kg. The white metal had gained Rs 400 in Tuesday's trade.

Meanwhile, silver coins continued to trade at previous level of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces on scattered support.

Source: Latest News from Gold Price Today

Gold snaps two-day falling trend, up by Rs 250 on global cues

Silver followed suit and rebounded by Rs 400 to Rs 44,800 per kg on increased offtake by industrial units and coin makers.Marketmen said apart from firming trend overseas, emergence of buying by jewellers and retailers to meet the upcoming festive season demand mainly attributed recovery in precious metal prices.

 

Gold in New York, which normally sets the price trend on the domestic front, rose by one per cent to USD 1,305.30 an ounce, a biggest gain since July 17 and silver by 1.1 per cent to USD 20.63 an ounce.In Delhi, gold of 99.9 and 99.5 per cent purity shot up by Rs 250 each to Rs 28,350 and Rs 28,150 per 10 grams, respectively. It had lost Rs 260 in last two days.Sovereigns followed suit and recovered by Rs 200 to Rs 24,900 per piece of eight grams.In a similar fashion, silver ready recovered by Rs 400 to Rs 44,800 per kg and weekly-based delivery by Rs 265 to Rs 44,280 per kg. The white metal had lost Rs 1,000 in the previous two sessions.Silver coins, however, held steady at Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces.

 

 

 

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