DAILY BUZZ
GOLD & SILVER
- Gold prices declined by Rs 105 to Rs 30,725 per ten gram in the national capital today on stockists selling at prevailing higher levels, triggered by weak global trend.
- Silver also lost Rs 750 to Rs 46,450 per kg, snapping five-day upsurge, on reduced offtake by jewellers and industrial units.
- Traders said stockists selling against sluggish demand at higher levels mainly led to fall in gold and silver prices.
- They said weak global trend where gold fell from six-month high as US economic data beat estimates, backing the case for reduced stimulus before the Fed meeting today, further influenced the sentiment.
- Gold in Singapore, which normally sets price trend on the domestic front, fell by 0.7 per cent to USD 1,357.13 an ounce and silver by 0.7 per cent to USD 21.05 an ounce.
- Strengthening rupee against the US dollar also made the dollar-priced precious metals cheaper when import, they added.
- On the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 105 each to Rs 30,725 and Rs 30,525 per ten gram respectively. It had gained Rs 30 in last two trade.
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