Gold prices fall by Rs 100 on lacklustre demand

New Delhi :  Gold prices came down by Rs 100 to Rs 32,050 per 10 grams at the bullion market Tuesday owing to slackened demand from local jewellers despite a firm trend in overseas markets.

Silver followed suit and cracked below the Rs 38,000-mark by plunging Rs 700 to Rs 37,450 per kg due to reduced offtake by industrial units and coin makers.

Marketmen attributed the slide in gold prices to easing demand from local jewellers and retailers at existing levels in domestic spot market but added that a firm trend overseas capped the fall.

Globally, gold rose 0.22 per cent to USD 1,203.50 an ounce and silver by 0.68 per cent to USD 14.18 an ounce in Singapore.

In the national capital gold of 99.99 per cent and 99.5 per cent purity fell by Rs 100 each to Rs 32,050 and Rs 31,900 per 10 grams respectively.

Sovereign gold, however, remained flat at Rs 24,800 per piece of 8 grams.

Silver ready slumped by Rs 700 to Rs 37,450 per kg and weekly-based delivery by Rs 453 to Rs 36,662 per kg.

Silver coins also dropped by Rs 1,000 to Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces as demand eased post festive season.




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