Gold Prices Slip Sharply Today But Silver Rates Steady

In the national capital, gold of 99.9 per cent and 99.5 per cent purities dropped by Rs 30 to Rs 32,190 and Rs 32,040 per 10 gram, respectively. Sovereign gold stood steady at Rs 25,000 per 8 gram.

Gold prices declined by Rs 30 to Rs 32,190 per 10 gram on Saturday due to weak demand from local jewellers. Similarly, silver rates dropped by Rs 200 to Rs 38,400 per kg on sluggish demand from industrial units and coin makers.

Traders said gold prices fell due to decline in wedding season demand.

In the domestic market, silver ready declined by Rs 200 to Rs 38,400 per kg, while weekly-based delivery fell by Rs 76 to Rs 38,054 per kg. Besides, silver coins remained unchanged at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.

Globally, gold slipped to $1,238.12 an ounce in New York, while silver held steady at $14.57 an ounce.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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