Press Esc to close
Friday 19 September 2014
News updated at 3:24 AM IST
Weather
Max: 27.8°C
Min : 20.1°C
In Bangalore
Sunny day

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

New Delhi, Apr 4, 2013(PTI)

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
A man collects drinking water from a partially submerged hand-pump in Srinagar...

A man collects drinking water from a partially submerged hand-pump in Srinagar...

Formula One drivers take off their headsets as they leave a news conference...

Formula One drivers take off their headsets as they leave a news conference...

Contestants of Femina Style Diva 2014 take a selfie with actress Mugdha Godse...

Contestants of Femina Style Diva 2014 take a selfie with actress Mugdha Godse...

Narendra Modi explains about the working of spinning wheel to Chinese President Xi Jinping...

Narendra Modi explains about the working of spinning wheel to Chinese President Xi Jinping...

Police lathicharge RLD supporters who were holding a protest against the Union government...

Police lathicharge RLD supporters who were holding a protest against the Union government...

Fawad Khan and Sonam Kapoor promote their upcoming film Khoobsurat...

Fawad Khan and Sonam Kapoor promote their upcoming film Khoobsurat...

Actors Shivarajkumar and Upendra offering the cake each other on the occasion of Uppi's birthday...

Actors Shivarajkumar and Upendra offering the cake each other on the occasion of Uppi's birthday...

Indian Oil Corporation rescue operators demonstrate a mock drill under...

Indian Oil Corporation rescue operators demonstrate a mock drill under...

Virendra Sehwag and George Bailey at the unveiling of Kings XI jersey...

Virendra Sehwag and George Bailey at the unveiling of Kings XI jersey...

People tearing a poster of actor Vijay...

People tearing a poster of actor Vijay...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523