Gold declines by Rs. 50 on poor demand; silver advances

September 20, 2010 04:04 pm | Updated 04:07 pm IST - New Delhi

A teller counts cash against gold pledged, at a bank in Kochi. File photo

A teller counts cash against gold pledged, at a bank in Kochi. File photo

Gold prices today fell by Rs. 50 to Rs. 19,350 per ten gram in the bullion market here on lack of buying support at existing higher levels.

Silver, however, edged up by Rs. 20 to Rs. 32,670 per kg on buying by industrial units.

Marketmen said jewellers and stockists postponed their purchases as gold is ruling at record high levels.

Trading sentiment remain weak despite firming trend in international markets, which normally set prices on the domestic front here, they said.

The gold of 99.9 and 99.5 per cent purity fell by Rs. 50 each at Rs. 19,350 and Rs. 19,250 per ten gram respectively while sovereign held unchanged at Rs. 15,200 per piece of eight gram in scattered small deals.

Silver ready gained Rs. 20 to Rs. 32,670 per kg while weekly-based delivery declined by Rs. 15 to Rs. 32,260 per kg.

Silver coins continued to be asked at previous levels of Rs. 35,100 for buying and Rs. 35,200 for selling of 100 pieces.

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