Gold prices steady; Silver prices struggle for sixth day, down Rs 320

By: |
New Delhi | Published: May 23, 2016 3:19 PM

Gold prices held steady in the absence of any worth-while buying activity by jewellers, while silver prices remained off-colour for the sixth straight day, plunging Rs 320 to Rs 39,580 on Monday.

Gold, silver prices todayGold prices held steady in the absence of any worth-while buying activity by jewellers, while silver prices remained off-colour for the sixth straight day, plunging Rs 320 to Rs 39,580 on Monday. (Photo: Reuters)

Silver prices remained off-colour for the sixth straight day, plunging Rs 320 to Rs 39,580 on Monday, tracking a weak global trend amid reduced off-take by industrial units and coin makers at the domestic spot market.

On the other hand, gold held steady in the absence of any worth-while buying activity by jewellers.

Traders attributed the sustained fall in silver prices to a weakening trend overseas and slack demand.

In the national capital, silver ready remained under selling pressure as it lost another Rs 320 to Rs 39,580 per kg. The white metal had lost Rs 1,360 in the previous five days. Silver weekly-based delivery traded lower by Rs 435 to Rs 39,405 per kg.

Silver coins, however, traded at the previous level of Rs 67,000 for buying and Rs 68,000 for selling of 100 pieces.

Gold of 99.9 per cent and 99.5 per cent purity went flat at Rs 29,650 and Rs 29,500 per 10 grams, respectively.

Sovereign followed suit and hovered at the last level of Rs 23,100 per 8 grams.

Globally, gold fell 0.14 per cent to $1,250.10 an ounce and silver by 1.03 per cent to $16.33 an ounce in Singapore.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Gold prices crash to below Rs 50,000 per 10 gm today; continue to fall for 3rd day in a row
2Gold price falls for 2nd day in a row; collapses below $1,900 after last week’s record high
3Gold prices off Rs 1,600 from all-time high, slip below Rs 55,000 per 10 gm; here’s what pushing down prices