Gold, Silver Slide on Subdued Demand, Global Cues

By Super
Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    New Delhi, Jan 1 (PTI) Gold prices today fell by Rs 100 to Rs 27,100 per ten grams on the first trading day of 2015 in the national capital owing to slackened demand from jewellers amid a weak global trend.

    Silver prices also fell by Rs 800 to Rs 36,200 per kg due to fall in demand from jewellers and industrial units.

    Gold, Silver Slide on Subdued Demand, Global Cues

    Traders said easing demand from jewellers and retailers at prevailing levels and a weak global trend reduced the appeal for bullion as an alternative asset.

    Gold in New York, which normally sets price trend on the domestic front, fell by 1.4 per cent to USD 1,184.10 an ounce and silver by 4.2 per cent to USD 15.59 an ounce yesterday.

    In Delhi, gold of 99.9 and 99.5 per cent purity fell by Rs 100 each to Rs 27,100 and Rs 26,900 per ten gram respectively.

    Sovereign, however, traded at last level of Rs 23,700 per piece of eight gram in limited deals. In line with a general weak trend, silver ready dropped by Rs 800 to Rs 36,200 per kg and weekly-based delivery by Rs 980 to Rs 36,170 per kg.

    Silver coins also plunged by Rs 1,000 to Rs 59,000 for buying and Rs 60,000 for selling of 100 pieces. Meanwhile, gold prices dropped by Rs 2,660, or nearly 10 per cent, to Rs 27,200 per ten grams during 2013 as the government tried to divert investors away from this 'unproductive asset' and a weak trend overseas.

    The year was even worse for silver that recorded a fall about 15 per cent in its price to Rs 37,000 per kg from 43,755.


    Read more about: gold silver
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    Notification Settings X
    Time Settings
    Clear Notification X
    Do you want to clear all the notifications from your inbox?
    Settings X
    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more