Gold, silver Weaken on Low Demand, Global cues
Livemint - Gold prices eased by Rs60 to Rs27,150 per ten grams on Tuesday in Delhi bullion market owing to slackened demand from jewellers and retailers amid a weak global trend. Marketmen said besides low demand from jewellers and retailers at prevailing levels, a weak global trend as the dollar touched a five-year high, damping investor demand for the metal as a safe-haven, weighed on gold prices. Globally, gold in New York, which normally sets price trend on the domestic front, fell by 1.1% to $1,181.90 an ounce and silver by 2.3% to $15.77 an ounce in Monday’s trade. In Delhi, gold of 99.9 and 99.5% purity declined by Rs60 each to Rs27,150 and Rs26,950 per ten grams respectively. Sovereign, however, enquired at last level of Rs23,700 in limited deals. In line with weak trend, silver ready fell by a whopping Rs600 to Rs36,650 per kg and weekly-based delivery by Rs630 to Rs36,620 per kg. Silver coins also plunged by Rs1,000 to Rs59,000 for buying and Rs60,000 for selling of 100 pieces. - DEC 30 2014. 03 41 PM IST
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