Press Esc to close
Saturday 27 May 2017
News updated at 11:07 PM IST

Gold falls to ten-mth low on sustained selling, global cues

New Delhi, Apr 4, 2013(PTI) 16:51 IST
Gold prices dropped to a ten month low today by falling Rs 100 to Rs 29,500 per ten grams due to sustained selling by stockists, influenced by a weak global trend.

However, silver recovered by Rs 500 to Rs 51,750 per kg on low level buying by industrial units. The metal had tumbled Rs 2,250 in last two sessions to hit 15-month lows yesterday.
Sentiment in gold remained bearish after it extended losses in global markets, on concern that investors are seeking higher returns in other assets as the global economy recovers.

Gold in global markets, which normally set price trend on the domestic front, lost 1 per cent to USD 1,541.82 an ounce, the lowest level since May 30 and silver by 1 per cent to USD 26.73 an ounce, the lowest level since July 24 in Singapore.

In addition, sustained selling by stockists following sluggish demand on off marriage season further fuelled the downtrend.

On the domestic front, gold of 99.9 and 99.5 per cent purity fell further by Rs 100 each to Rs 29,500 and Rs 29,300 per ten grams, respectively. Sovereign held steady at Rs 25,100 per piece of eight gram in limited deals.

On the other hand, silver ready found low level buying support from industrial units and recovered by Rs 500 to Rs 51,750 per kg while weekly-based delivery shed another Rs 70 to Rs 50,830 per kg.

Silver coins continued to be asked around previous level of Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces.

Go to Top

Photo Gallery
Prime Minister Narendra Modi shakes hands with his Mauritian counterpart Pravind Kumar Jugnauth...

Prime Minister Narendra Modi shakes hands with his Mauritian counterpart Pravind Kumar Jugnauth...

Congress president Sonia Gandhi pays tributes to first prime minister Pandit Jawaharlal Nehru...

Congress president Sonia Gandhi pays tributes to first prime minister Pandit Jawaharlal Nehru...

Congress vice president Rahul Gandhi meeting the victims of Saharanpur caste violence at...

Congress vice president Rahul Gandhi meeting the victims of Saharanpur caste violence at...

A Policeman in action against stone pelters during violent clashes which erupt following the...

A Policeman in action against stone pelters during violent clashes which erupt following the...

Delhi Deputy Chief Minister Manish Sisodia addressing a press conference in New Delhi...

Delhi Deputy Chief Minister Manish Sisodia addressing a press conference in New Delhi...

Congress activists took out a rally in Kolkata on Saturday, demanding improvement in law and...

Congress activists took out a rally in Kolkata on Saturday, demanding improvement in law and...

Youth Congress organised Beef Festivals in front of Ernakulam BJP office in Kochi...

Youth Congress organised Beef Festivals in front of Ernakulam BJP office in Kochi...

Spiritual leader the Dalai Lama confer the Avalokiteshvara Empowerment from the Main Tibetan...

Spiritual leader the Dalai Lama confer the Avalokiteshvara Empowerment from the Main Tibetan...

The completely damaged house where two militants including a top commander of Hizbul Mujahideen...

The completely damaged house where two militants including a top commander of Hizbul Mujahideen...

A group of protesters who have blocked the road near the scene of a fierce gunbattle between...

A group of protesters who have blocked the road near the scene of a fierce gunbattle between...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.