Gold drifted further lower by Rs 15 per ten grams at the bullion market here today, due to lack of buying interest from stockists and retailers.
Gold drifted further lower by Rs 15 per ten grams at the bullion market here today, due to lack of buying interest from stockists and retailers. However, silver snapped its six-day long winning run on reduced offtake by industrial units. Standard gold (99.5 purity) eased by Rs 15 to close at Rs 28,620 per 10 grams from Thursday’s level of Rs 28,635. Pure gold (99.9 purity) also moved down by a similar margin to finish at Rs 28,770 per 10 grams as against Rs 28,785 yesterday. Silver (.999 fineness) slumped by Rs 370 to conclude at Rs 39,080 as compared to Rs 39,450 previously. Globally, gold prices ended lower yesterday as a global rise in government bond yields diminished the appeal of investing in precious metals that don’t bear interest. Gold for August delivery on Comex slipped $ 3.30, or 0.3 per cent, to settle at $ 1,245.80 an ounce, after notching back-to-back gains Wednesday. September silver ticked down by 13.7 cents, or 0.8 per cent, to $ 16.654 an ounce.