Arrival of new stocks to meet the current seasonal demand lead to fall in gold prices on the bullion market, while silver attracted buyers attention and gained moderate ground. Marketmen said stockists are bringing in fresh stocks to meet the festival and marriage season demand.However, increased buying in silver by industrial units and jewellery fabricators remained a boosting factor, they added. A firm trend in global markets, which normally sets the price band in domestic markets, failed to influenced the market which was in a preparatory mood to meet festival demand.At London gold for immediate delivery rose $3.55 at $758.38 an ounce while silver gained 2 cents to $13.65 an ounce. Standard gold and ornaments declined by Rs 10 each to close at Rs 9,865 and Rs 9,715 per 10 gram on reduced buying.
Sovereign, also met with resistance and tumbled by Rs 25 at Rs 7,925 per piece of eight gram. On the other hand, silver ready marched ahead on increased buying and settled higher by Rs 40 at Rs 18,240 per kilo.Silver coins, meanwhile, maintained last closing levels on some support and traded unchanged at Rs 24,300 for buying and Rs 24,400 for selling of 100 pieces.
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