INSUBCONTINENT EXCLUSIVE:
Traders said enthusiasm for the yellow metal was lacking at the domestic spot marketNew Delhi: Gold prices fell by Rs 170 to Rs 31,480 per
10 grams at the bullion market Friday on global weakness and easing local demand
Besides, the rupee recovering from its record low of 69.10 (intra-day) to 68.36 today against the dollar also put pressure on the gold
Finance Minister Piyush Goyal said the rupee's fall didn't need any knee jerk reaction
rupee on Wednesday ended at record low of 68.79 against the dollar
Silver remained weak on selling pressure and lost another Rs 200 to Rs 40,6000 per kg owing to lower demand from industrial units and coin
makers.Traders said enthusiasm for the yellow metal was lacking at the domestic spot market in line with subdued overseas cues
Globally, gold fell 0.29 per cent to $1,248 an ounce and silver by 0.22 per cent to $15.98 an ounce in New York yesterday.In Delhi, gold of
99.9 per cent and 99.5 per cent purity softened by Rs 170 each to Rs 31,480 and Rs 31,330 per 10 grams, respectively
The precious metal had gained Rs 80 in the previous session.Sovereign, however, remained flat at Rs 24,800 per piece of eight grams
Silver ready fell by Rs 200 to Rs 40,600 per kg and weekly-based delivery by Rs 230 to Rs 39,285 per kg
