Gold eases on weak demand; silver rebounds to hit Rs 45,000 mark

Aug 04 2014, 19:55 IST
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Spot gold was bid higher at USD 1,294 an ounce in early European session. Spot gold was bid higher at USD 1,294 an ounce in early European session.
SummaryGold prices fell marginally after a straight three-session gaining spree at the bullion market here today...

Gold prices fell marginally after a straight three-session gaining spree at the bullion market here today due to reduced offtake from stockists and local investors shadowed by global uneasiness.

Silver, on the other hand, regained some lost ground following renewed industrial buying.

Standard gold (99.5 purity) moved down by Rs 25 to end at Rs 27,985 per 10 grams compared to last Saturday's closing level of Rs 28,010.

Pure gold (99.9 purity) also softened by Rs 20 to settle at Rs 28,135 per 10 grams from Rs 28,155.

Silver (.999 fineness), however, rose by Rs 100 to conclude at Rs 45,000 per kg against Rs 44,900 last weekend.

On the global front, the yellow metal traded modestly higher after rebounding from six-week low on easing fears of an imminent interest rates hike following disappointing US jobs data boosted the metals safe-haven demand.

Spot gold was bid higher at USD 1,294 an ounce in early European session.

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