Gold Silver Reports — Gold prices drifted lower by another Rs100 to Rs29,700 per 10 grams at the bullion market on Wednesday on tepid demand from local jewellers and a weak trend overseas.
Silver, however, recaptured the Rs40,000-mark on scattered enquiries from consuming industries.
Traders said the local bullion market sentiment was subdued amid easing demand from jewellers and weak global cues as the US dollar strengthened against a basket of major currencies ahead of an annual meeting of central bankers this week.
Globally, gold prices fell 0.53% to $1,284.40 an ounce in New York in Tuesday’s trade. In Delhi, gold of 99.9% and 99.5% purity fell further by Rs100 each to Rs29,700 and Rs29,550 per 10 grams, respectively.
The precious metal had lost Rs150 on Tuesday. Sovereign, however, remained unaltered at Rs 24,500 per piece of eight grams.
On the other hand, silver ready recovered by Rs100 to Rs40,000 per kg and weekly-based delivery by Rs125 to Rs39,020 per kg.
However, silver coins continued to be traded at previous level of Rs73,000 for buying and Rs74,000 for selling of 100 pieces.
