Gold price falls Rs 150 to Rs 27,100 on global cues

Written by PTI | New Delhi | Updated: Jun 7 2014, 20:48pm hrs
Gold prices fell by Rs 150 to Rs 27,100 per ten gram in the national capital on stockists selling today, tracking a weak global trend.

Silver also dropped by Rs 375 to Rs 40,625 per kg due to reduced offtake by industrial units.

Traders said stockists selling in tandem with a weak global trend and low demand from jewellers mainly led to the fall in the precious metals prices.

Gold in New York, which normally sets price trend on the domestic front, fell by 0.1 per cent to USD 1,252.50 an ounce and silver by 0.5 per cent to USD 18.99 an ounce.

In Delhi, gold of 99.9 and 99.5 per cent purity fell by Rs 150 each to Rs 27,100 and Rs 26,900 per ten gram respectively, while sovereign remained steady at Rs 24,400 per piece of eight gram.

In a similar fashion, silver ready dropped by Rs 375 to Rs 40,625 per kg and weekly-based delivery by Rs 280 to Rs 39,995 per kg. Silver coins continued to be asked at last level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.