Gold slides on subdued demand, silver jumps ₹525

Sovereign gold rose by ₹100

Published - December 27, 2018 05:01 pm IST - New Delhi

Gold prices on Thursday declined slightly by ₹50 to ₹32,450 per 10 gm at the bullion market in the national capital, due to weak trend overseas.

Silver, however, witnessed a jump of ₹525 to ₹38,650 per kg on increased buying by industrial units and coin makers.

Traders said weak trend overseas and lacklustre demand from local jewellers put pressure on the yellow metal in the domestic market.

Globally, gold traded lower by 0.33% at USD 1,268.98 an ounce, while silver was up by 1.07% at USD 15.01 an ounce in New York.

In the national capital, gold of 99.9% and 99.5% purities lost ₹50 each to ₹32,450 and ₹32,300 per 10 gm, respectively.

Sovereign gold rose by ₹100 to ₹25,100 per piece of eight gram.

Silver ready gained ₹525 to ₹38,650 per kg, while weekly-based delivery declined by ₹478 to ₹37,203 per kg.

Silver coins moved up by ₹1,000 and stood at ₹75,000 for buying and ₹76,000 for selling of 100 pieces.

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