Weak demand for gold and silver

Lesser interest from stockists as well as weak local buying interest for gold
Weak demand for gold and silver

Gold prices fell modestly thus breaking a three-session rising trend, at the domestic bullion market, says a report.

The weaker demand was attributed to lesser demand from stockists as well as weak local buying interest at current levels. Besides, silver too slumped back after a brief overnight recovery on the back of speculative selling and lower industrial support. Standard gold (99.5 purity) dropped by Rs. 65 to close at Rs. 26,400 per 10 grams from Tuesday’s closing Rs. 26,465. Pure gold (99.9 purity) also dropped by a similar margin to finish at Rs. 26,550 per 10 grams from Rs. 26,615 previously. Silver (.999 fineness) slumped by Rs. 160 to conclude at Rs. 37,390 per kg against Rs. 37,550 yesterday, adds a report.


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