ZCZC
BCN-18
INDIA-GOLD-BULLION-MARKET
Gold down Rs 200 on low demand
New Delhi, Sep 15, 2018 (BSS/PTI) – Gold fell by Rs 200 to Rs 31,400 per 10
gram at the bullion market Friday owing to weak demand from jewellers and
retailers even as the metal strengthened overseas.
Silver followed suit and fell by Rs 250 to Rs 37,650 per kg due to reduced
offtake by industrial units and coin makers.
Marketmen said muted demand from local jewellers and retailers at the
domestic spot markets mainly kept pressure on the precious metal, but a firm
trend overseas capped the fall.
Globally, gold rose 0.61 per cent to USD 1,208.20 an ounce and silver 0.78
per cent to USD 14.25 an ounce in Singapore as softer-than-expected US
consumer prices data dimmed the case for a faster pace of policy tightening
by the Federal Reserve.
In the national capital, gold of 99.9 and 99.5 per cent purity drifted lower
by Rs 200 each to Rs 31,400 and Rs 31,250 per 10 gram, respectively. The
precious metal had shed Rs 25 yesterday.
Sovereign, however, remained flat at Rs 24,500 per piece of eight gram.
Tracking gold, silver ready dropped by Rs 250 to Rs 37,650 per kg and weekly-
based delivery by Rs 75 to Rs 37,210 per kg.
Silver coins, however, continued to be traded at previous level of Rs 72,000
for buying and Rs 73,000 for selling of 100 pieces.
BSS/PTI/HR/1110