1. Gold declines on weak buying on Diwali eve

Gold declines on weak buying on Diwali eve

Gold prices declined further at the domestic bullion market here due to reduced offtake by stockists and retailers in the face of volatile global cues.

By: | Mumbai | Published: November 10, 2015 6:42 PM
Gold prices declined further at the domestic bullion market here due to reduced offtake by stockists and retailers in the face of volatile global cues. (Photo: AP)

Gold prices declined further at the domestic bullion market here due to reduced offtake by stockists and retailers in the face of volatile global cues. (Photo: AP)

Gold prices declined further at the domestic bullion market here due to reduced offtake by stockists and retailers in the face of volatile global cues.

Silver also plummeted sharply following frantic unwinding by speculative traders as well as sluggish demand from consuming industries.

Standard gold (99.5 purity) moved down by Rs 65 to finish at Rs 25,735 per 10 grams, from Monday’s close of Rs 25,800.

Pure gold (99.9 purity) also fell by a similar margin to end at Rs 25,885 per 10 grams compared to Rs 25,950 earlier.

Silver (.999 fineness) plunged by Rs 490 per kg to conclude at Rs 35,490 as against Rs 35,980 yesterday.

On the global front, the yellow-metal traded near its three-month low amid investors caution after US non-farm payrolls data beat expectations and increased the likelihood of the Federal Reserve lifting interest rates end of the year.

Spot was little changed at USD 1,093.50 an ounce in early European session, while silver quoted marginally lower at USD 14.50 an ounce.

Tags: Gold
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