Gold’s hat-trick of gains came to a halt as the prices softened by Rs 100 to Rs 29,100 per 10 grams today, hurt by local demand weakness, even as the metal paced up overseas. In contrast, silver climbed further by Rs 50 to Rs 39,200 per kg, driven by industrial units and coin makers. A decline in demand from local jewellers and retailers pushed down gold prices, but a firm trend overseas kept the fall here to a minimum. Globally, gold rose 0.71 per cent to USD 1,255.60 an ounce and silver by 1.66 per cent to USD 16.83 an ounce in New York yesterday.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 100 each to Rs 29,100 and Rs 28,950 per 10 grams, respectively. It had gained Rs 600 in the past three days. Sovereign, however, remained steady at Rs 24,400 per piece of eight grams. On the other hand, silver ready advanced by Rs 50 to Rs 39,200 per kg and weekly-based delivery Rs 135 to Rs 39,135 per kg.
Silver coins, however, were on hold at Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.