Gold price softens on reduced buying, silver eases

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SummaryGold prices moved down further at the domestic bullion market here today due to lack of buying interest from stockists at existing levels amid sluggish global sentiment.

Gold prices moved down further at the domestic bullion market here today due to lack of buying interest from stockists at existing levels amid sluggish global sentiment.

The industrial metal too turned weak on the back of subdued speculative as well as industrial demand.

Standard gold (99.5 purity) fell by Rs 30 per 10 grams to settle at Rs 32,325 from overnight closing level of Rs 32,355.

Pure gold (99.9 purity) slipped by Rs 35 per 10 grams to end at Rs 32,465 from Rs 32,500.

Silver ready (.999 fineness) lost by Rs 80 per kg to close at Rs 64,050 as compared to Rs 64,130 previously.

In overseas trade, gold continued to slide.

Spot gold was bid lower at USD 1,739.40 an ounce in early trade and silver was bid down at USD 33.895 an ounce.

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