Gold prices dropped marginally on the bullion market on Monday as investors channeled their money into the stock market, while the marriage season led the silver prices moved upward. Gold prices fell marginally by Rs 10 to Rs 12,000 per 10 gram and silver rose by Rs 130 to Rs 17,130.
Gold shed some ground as investors were concerned for the quick gains in stock market. An adequate supply position further pulled down prices of the yellow metal. Standard gold and ornaments receded by Rs 10 each at Rs 12,000 and Rs 11,850 per 10 gram, while the sovereign ruled flat at Rs 10,500 per piece of eight gram.
Silver prices spurted on increased buying by the jewellery fabricators to meet the ongoing marriage season demand. Silver ready and weekly-based delivery moved up by Rs 130 and Rs 180 to Rs 17,130 each per kg on efficient buying on the back of a firm global trend. Its coins held steady at Rs 27,000 for buying and Rs 27,100 for selling of 100 pieces.
Gold shed some ground as investors were concerned for the quick gains in stock market. An adequate supply position further pulled down prices of the yellow metal. Standard gold and ornaments receded by Rs 10 each at Rs 12,000 and Rs 11,850 per 10 gram, while the sovereign ruled flat at Rs 10,500 per piece of eight gram.
Silver prices spurted on increased buying by the jewellery fabricators to meet the ongoing marriage season demand. Silver ready and weekly-based delivery moved up by Rs 130 and Rs 180 to Rs 17,130 each per kg on efficient buying on the back of a firm global trend. Its coins held steady at Rs 27,000 for buying and Rs 27,100 for selling of 100 pieces.
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