Gold Silver Reports (GSR) – Gold prices dipped below the ₹ 32,000-mark, falling Rs 100 to ₹ 31,950 per ten grams at the bullion market today amid a weak trend overseas and fall in demand from local jewellers.
Silver followed suit and cracked below the ₹ 41,000-mark by plunging Rs 650 to ₹ 40,450 per kg.
Sentiment dampened largely in line with a weak trend overseas amid slump in demand from local jewellers and retailers at prevailing higher levels at domestic spot market, traders said.
Besides, an appreciating rupee against the US dollar made the imports cheaper, weighed on the prices, they said.
Globally, gold fell 0.22 per cent to $1,296.10 an ounce an ounce in Singapore.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity declined by ₹ 100 each to ₹ 31,950 and ₹ 31,800 per ten gram respectively. It had gained Rs 450 in the previous four sessions.
Silver ready also drifted down by ₹ 650 to ₹ 40,450 per kg, while weekly-based delivery advanced by ₹ 125 to ₹ 40,535 per kg on speculative buying.
Silver coins, however, continued to be traded at the previous level of ₹ 76,000 for buying and ₹ 77,000 for selling of 100 pieces.
