Gold extended its losses and lost another Rs 40 to close at Rs 15,375 per ten gram in the bullion market in New Delhi on selling influenced by weakening global trend. Silver also followed the same trend and lost Rs 300 to settle the day at Rs 21,800 per kg as as metel prices continued to slide in overseas market.
Market men said stockists relieved of part of their holdings in line with weakening trend in overseas markets mainly put pressure on the precious metal prices. They said reduced off take by retailers due to off-marriage season further fuelled the down-trend. Standard gold and ornaments lost Rs 40 each to Rs 15,375 and Rs 15,225 per ten gram respectively. However, sovereign remained steady at Rs 12,400 per piece of eight gram. In a similar way, silver ready dropped by Rs 300 to Rs 21,800 per kg on poor off take by industrial units and weekly-based delivery by Rs 140 to Rs 22,460 per kg. Besides, silver coins continued to be asked around previous level of Rs 28,400 for buying and Rs 28,500 for selling of 100 pieces.
Market men said stockists relieved of part of their holdings in line with weakening trend in overseas markets mainly put pressure on the precious metal prices. They said reduced off take by retailers due to off-marriage season further fuelled the down-trend. Standard gold and ornaments lost Rs 40 each to Rs 15,375 and Rs 15,225 per ten gram respectively. However, sovereign remained steady at Rs 12,400 per piece of eight gram. In a similar way, silver ready dropped by Rs 300 to Rs 21,800 per kg on poor off take by industrial units and weekly-based delivery by Rs 140 to Rs 22,460 per kg. Besides, silver coins continued to be asked around previous level of Rs 28,400 for buying and Rs 28,500 for selling of 100 pieces.
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