INSUBCONTINENT EXCLUSIVE:
Sovereign gold, however, remained steady at Rs 24,800 per piece of eight gram.New Delhi: Gold remained weak for the second straight day and
drifted lower by Rs 25 to Rs 31,570 per 10 gram amid weakening global trend and easing demand from the local jewellers at the bullion market
on Wednesday, reported news agency Press Trust of India (PTI)
Silver slipped below the Rs 41,000-mark, declined by Rs 120 per kg, due to reduced offtake by industrial units and coin makers, further
Marketmen said, sentiment remained downbeat on the back of weak trend overseas as dollar firmed amid easing risk aversion and expectations
of further interest rate hikes by the US Federal Reserve, eroded demand for the precious metal as a safe-haven.Here are key things to know
Globally, gold fell by 0.32 per cent to $1,254.16 an ounce, its lowest since mid-December last year
Silver shed 0.49 per cent to $16.19 an ounce in Singapore
Furthermore, muted demand from the local jewellers and retailers at the domestic spot markets fuelled the downtrend
In the national capital, gold of 99.9 and 99.5 per cent purity lost Rs 25 each to Rs 31,570 and Rs 31,420 per 10 gram, respectively
The precious metal had fallen by Rs 55 yesterday.4
Sovereign gold, however, remained steady at Rs 24,800 per piece of eight gram
In line with overall trend, silver also drifted lower by 120 to Rs 40,880 per kg and weekly-based delivery by Rs 60 to Rs 39,615 per kg
On the other hand, silver coins continued to be traded at previous level of Rs 76,000 for buying and Rs 77,000 for selling of 100
