DAILYBUZZ
GOLD & Silver
- Gold prices dipped by Rs 60 to Rs 31,240 per ten grams in the national capital today on emergence of stockists selling and a weak global trend.
- Silver also lost Rs 570 to Rs 47,330 per kg on reduced offtake by jewellers and industrial units.
- Traders said stockists selling following a weak global trend as the metal declined from more than four-month high amid speculation that the crisis in Ukraine is easing, reduced demand for the precious metal as a safe haven.
- Gold in Singapore, which normally sets price trend on the domestic front, fell by one per cent to US $ 1,336.59 an ounce and silver by 0.8 per cent to US $ 21.24 an ounce.
- They said investors shifting funds from bullion to rising equities for quick gains also influenced the sentiment.
- On the domestic front, gold of 99.9 and 99.5 per cent purity declined by Rs 60 each to Rs 31,240 and Rs 31,040 per ten grams, respectively.
- It had gained Rs 200 yesterday.
- Sovereign held steady at Rs 25,500 per piece of eight grams.
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