Gold prices dropped Rs. 130 to Rs. 29,450 per ten gram in the national capital on Tuesday as demand from jewellers and retailers declined at prevailing levels amid weak global cues.
Silver too turned weak and shed Rs. 50 to Rs. 41,500 per kg due to reduced off-take by coin makers.
Market-men said besides weak demand at prevailing levels, lower global trend where gold dipped below $1,300 an ounce mainly led to decline in the precious metals in India.
Gold in Singapore, which normally sets price trend on the domestic front, traded at $1,290.23 an ounce.
In Delhi, gold of 99.9 and 99.5 per cent purity fell by Rs. 130 each to Rs. 29,450 and Rs. 29,250 per ten gram respectively, while sovereign remained unaltered at Rs. 24,900 per piece of 8 gram.
Similarly, silver ready declined by Rs. 50 to Rs. 41,500 per kg and weekly-based delivery lost Rs. 200 at Rs. 41,000 per kg.
On the other hand, silver coins continued to be asked at last level of Rs. 79,000 for buying and Rs. 80,000 for selling of 100 pieces.
Source:- thehindu.com
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