The prices of gold fell Rs 350 to Rs 13,150 per 10 gram in the national capital yesterday backed by hectic selling by stockists due to weak global trend as well as drying up of retail buying. On the other hand, the silver also declined by Rs 570 to Rs 17,920 per kg. The metal suffered huge losses after its prices for the third straight day fell in London due to strengthening of dollar against euro along with the fall in oil prices.
The traders said that the restricted buying by retail customers added to the fall as buying for “Makarsakranti'''' is almost over amid off marriage season. In line with this, they said the metal in overseas markets recorded a hefty loss of 37.70 dollar an ounce at 815.20 dollar as euro fell against the dollar on speculation that the European Central Bank will cut interest rates.
Silver for ready delivery tumbled by Rs 570 at Rs 17,920 per kg and weekly-based delivery by Rs 600 at Rs 17,760 per kg. Along with this, the silver coins slipped by Rs 200 to Rs 26,300 for buying and Rs 26,900 for selling of 100 pieces. On the top of this, the standard gold and ornaments dropped by Rs 350 each at Rs 13,150 and Rs 13,000 per 10 gram, respectively.
The traders said that the restricted buying by retail customers added to the fall as buying for “Makarsakranti'''' is almost over amid off marriage season. In line with this, they said the metal in overseas markets recorded a hefty loss of 37.70 dollar an ounce at 815.20 dollar as euro fell against the dollar on speculation that the European Central Bank will cut interest rates.
Silver for ready delivery tumbled by Rs 570 at Rs 17,920 per kg and weekly-based delivery by Rs 600 at Rs 17,760 per kg. Along with this, the silver coins slipped by Rs 200 to Rs 26,300 for buying and Rs 26,900 for selling of 100 pieces. On the top of this, the standard gold and ornaments dropped by Rs 350 each at Rs 13,150 and Rs 13,000 per 10 gram, respectively.
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