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       Gold extends losses on muted demand, silver slips
 
         Posted on :18:42:44 Apr 10, 2017
   
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       Last edited on:18:42:44 Apr 10, 2017
         Tags: Gold and silver price slip
 

MUMBAI: Gold prices fell by Rs. 105 per 10 grams at the bullion market on Monday due to reduced demand from jewellers and stockists.

Silver also slipped on selling pressure and lost Rs. 810 to trade below the Rs. 42,000-mark at Rs. 41,820 per kg.

Standard gold (99.5 purity) dropped by Rs. 105 to end at Rs. 28,670 per 10 grams from last Friday's finish of Rs. 28,775.

Pure gold (99.9 purity) also fell by a similar margin to settle at Rs. 28,820 per 10 grams as against Rs. 28,925 earlier.

Silver (.999 fineness) slumped by Rs. 810 to close at Rs. 41,820 compared with Rs. 42,630 previously.

Globally, gold steadied after dropping back sharply from the previous session's five-month highs, with a firmer dollar counterbalancing concerns over geopolitical tensions in North Korea and the Middle East.

Spot gold stood at USD 1,253.30 an ounce at early trade, little changed from late on Friday.

Among other precious metals, silver was down 0.3 per cent at USD 17.90 an ounce, having hit its highest since Feb 27 at USD 18.47 on Friday.

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       BUSINESS
Next Article: Sensex bounces 125 pts, Nifty above 9,200 early on
 
 
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