Gold remains weak on easing demand, global cues

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New Delhi | Updated: November 26, 2014 4:07:35 PM

Gold prices fell by Rs 20 to Rs 26,880 per 10 grams at the bullion market.

Gold prices fell by Rs 20 to Rs 26,880 per 10 grams at the bullion market. (Reuters)Gold prices fell by Rs 20 to Rs 26,880 per 10 grams at the bullion market. (Reuters)

Gold prices fell by Rs 20 to Rs 26,880 per 10 grams at the bullion market in the national capital on easing demand from jewellers and retailers at prevailing levels amid a weak global trend.

However, silver strengthened by Rs 175 to Rs 37,200 per kg on persistent buying support from industrial units and coin makers.

Marketmen said besides falling demand from jewellers and retailers at prevailing levels, shifting of funds towards rising equity market and a weak global trend, kept pressure on gold prices.

Gold in Singapore, which normally sets price trend on the domestic front, was trading a shade lower at USD 1,200.09 an ounce.
In Delhi, gold of 99.9 and 99.5 per cent purity shed Rs 20 each to Rs 26,880 and Rs 26,680 per 10 grams, respectively.

Sovereign continued to trade at last level of Rs 23,800 per piece of eight grams in limited deals.

On the other hand, silver ready rose by Rs 175 to Rs 37,200 per kg and weekly-based delivery by Rs 165 to Rs 36,620 per kg. Silver coins spurted by Rs 1,000 to Rs 63,000 for buying and Rs 64,000 for selling of 100 pieces.

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