Gold prices fell by Rs. 55 to Rs. 32,945 per 10 grams at the bullion market on Tuesday due to tepid demand from jewellers, reported news agency, the All India Sarafa Association.
Gold, silver also slip by Rs. 200 to Rs. 38,500 per kg due to reduced offtake by industrial units and coin makers. Easing demand from local jewellers at the domestic market led to the decline in prices, but a firm trend overseas restricted the fall.
Silver Spot Support $14.75, Are Ready For Big Down Fall
Spot gold rose 0.4 percent to $1,285 per ounce at in intraday trade. US gold futures were up 0.4 per cent at $1,286.20 an ounce.
Silver ready slumped by Rs. 200 to Rs. 38,500 per kg and weekly-based delivery reduced by Rs. 28 to Rs. 37,222 per kg. On the other hand, silver coins held flat at Rs. 80,000 for buying and Rs. 81,000 for selling of 100 pieces.
Gold prices edged down on Tuesday as disappointing Chinese factory activity data brought back concerns about the health of the global economy, denting risk appetite, reported news agency Reuters.
In Delhi, gold of 99.9 per cent and 99.5 per cent purity declined by Rs. 55 each to Rs. 32,945 and Rs. 32,775 per 10 grams, respectively. On Monday, the yellow metal had gained by Rs. 30.
However, sovereign gold held steady at Rs. 26,400 per eight grams.
