Gold price moves down on reduced offtake in Mumbai, silver dives to 1-month low

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Standard gold (99.5 purity) fell by Rs 60 to finish at Rs 31,065 per 10 grams from last Saturday's closing level of Rs 31,125. Reuters Standard gold (99.5 purity) fell by Rs 60 to finish at Rs 31,065 per 10 grams from last Saturday's closing level of Rs 31,125. Reuters
SummaryGold prices edged down further at the domestic bullion market due to subdued demand from jewellery stockists.

Gold prices edged down further at the domestic bullion market today due to subdued demand from jewellery stockists as well as poor local buying interest amid weak overseas trend.

Silver plummeted to a one-month low and closed below the Rs 48,000 per kg mark on the back of heavy speculative unwinding coupled with sluggish industrial demand.

Standard gold (99.5 purity) fell by Rs 60 to finish at Rs 31,065 per 10 grams from last Saturday's closing level of Rs 31,125.

Pure gold (99.9 purity) also lost by a similar margin to end at Rs 31,215 per 10 grams as compared to Rs 31,275.

Silver ready (.999 fineness) shed Rs 455 to conclude at Rs 47,625 per kg from last weekend level of Rs 48,080.

Gold graphs November 18

Globally, the shiny metal was trading marginally lower ahead of the release of minutes from the Federal Reserve's recent policy setting meeting.

Spot gold was bid down at USD 1,284.80 an ounce in early European trade and spot silver was bid soft at USD 20.65 an ounce.

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