Global weakness rubs off on gold, demand falters too

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Global weakness rubs off on gold, demand falters too

New Delhi, Apr 10 (PTI) Gold prices eased by Rs 10 to Rs 29,290 per 10 grams in thin trade today, tracking a weak trend overseas amid muted demand from local jewellers.

Silver, however, recovered Rs 50 to Rs 41,800 per kg on diffused demand from industrial units and coin makers.

Other than global leads because of mounting tension between the US and Russia, softness in demand from local jewellers at the domestic spot market mainly kept gold prices lower, traders said.

Globally, gold fell by 0.10 per cent to USD 1,252.60 an ounce and silver by 0.28 per cent to USD 17.91 in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity shed Rs 10 each at Rs 29,290 and Rs 29,140 per 10 grams, respectively.

Sovereign, however, remained steady at Rs 24,400 per piece of eight grams.

On the other hand, silver ready edged up by Rs 50 to Rs 41,800 per kg while weekly-based delivery traded lower by Rs 10 at Rs 41,370 per kg.

Silver coins, however, continued to be traded at the previous level of Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.

This is published unedited from the PTI feed.