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Gold prices fall on muted demand from jewellers; silver firms up

Gold prices decline by ₹40 to ₹32,770 per 10 gram; Silver gain ₹90 to ₹37,500 per kg

May 27, 2019 05:16 pm | Updated 05:16 pm IST - New Delhi

Gold prices on Monday declined by ₹40 to ₹32,770 per 10 gram in the national capital due to lacklustre demand from local jewellers, according to the All India Sarafa Association.

Silver however, gained ₹90 to ₹37,500 per kg on fresh offtake by industrial units and coin makers.

According to traders, fall in demand from local jewellers and retailers at the domestic spot market led to the dip in gold prices but a positive trend overseas capped the fall.

Globally, spot gold was trading higher at $1286.60 an ounce, while silver was up at $14.66 an ounce in New York.

In the national capital, gold of 99.9% and 99.5% purity dropped by ₹40 each to ₹32,770 and ₹32,600 per 10 gram, respectively.

Sovereign gold, however, held steady at ₹26,500 per eight gram.

On Saturday, gold prices had fallen by ₹60 to ₹32,810 per 10 gram.

Silver ready Monday rose by ₹90 at ₹37,500 per kg, while weekly-based delivery advanced ₹114 to ₹36,498 per kg.

On the other hand, silver coins held flat at ₹79,000 for buying and ₹80,000 for selling of 100 pieces.

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