Snapping a three-day gaining streak, gold fell by Rs. 50 to Rs. 32,400 per 10 grams in the bullion market in New Delhi on Wednesday on profit-selling amid a weak global trend, while silver prices held steady on restricted buying.

Traders said profit-selling by stockists at existing higher levels amid a weak global trend as deepening euro-zone debt crisis weakened euro against the dollar and shifted investors interest from bullion to Forex and equities.

In Singapore, gold fell by 0.4 per cent to USD 1,720.85 an ounce.

Restricted buying from industrial units and coin makers kept silver steady, they added.

On the domestic front, gold of 99.9 and 99.5 per cent purity declined by Rs. 50 each to Rs. 32,400 and Rs. 32,200 per 10 grams, respectively. Gold gained Rs. 450 in last two sessions.

Sovereign held steady at Rs. 25,550 per piece of eight grams in limited deals.

Silver ready held steady at Rs. 62,000 per kg, while weekly-based delivery shed Rs. 40 at Rs. 61,675 per kg on lack of buying support from speculators.

Silver coins plunged by Rs. 1,000 to Rs. 78,000 for buying and Rs. 79,000 for selling of 100 pieces.


Gold surges to nine-week highNovember 23, 2012

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