Partly Cloudy
-10°CFri :Clear. High: -2 Low: -11

Gold prices dip below Rs 31,000 per 10 gm on stockists selling

Gold prices dip below Rs 31,000 per 10 gm on stockists selling

New Delhi: Gold prices on Tuesday lost Rs 210 to slip below the psychological Rs 31,000-mark at Rs 30,790 per 10 grams here on heavy selling by stockists, triggered by a weak overseas markets.

Silver followed suit and dropped by Rs 1,015 to Rs 57,850 per kg on poor offtake by industrial units and coin makers.

The trading sentiment turned bearish after gold fell in global markets to a lowest in more than a month as strong dollar reduced demand for the metal as an alternate investment.

In Singapore, gold fell 0.3 percent to USD 1,642.90 an ounce, the cheapest since January 4 and silver by 0.7 percent to USD 30.73 an ounce, its lowest level since January 28.

In addition, investors seen shifting their funds from weakening bullion to rising equity and retail customer refrained from purchasing on expectations of a more corrections also had negative impact on the sentiment.

On the domestic front, gold of 99.9 and 99.5 percent purity tumbled by Rs 210 each to Rs 30,790 and Rs 30,590 per 10 grams, respectively.

However, sovereigns remained steady at Rs 25,350 per piece of eight grams in limited deals.

In line with a weak general trend, silver ready dropped by Rs 1,015 to Rs 57,850 per kg and weekly-based delivery by Rs 810 to Rs 57,500 per kg. Silver coins too plunged by Rs 2,000 to Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces.

 

Top Stories

apple_iPhone_6_triple

Apple expands iPhone costs in India

March-05-2015
NEW DELHI: About a week post the union plan, Apple has expanded costs of all its cell phones in India by up
630_11

Home Ministry Sends Nirbhaya Documentary Ban Order to BBC

March-05-2015
New Delhi: The Home Ministry, sources said, has sent a duplicate of the court request disallowing the broadcast of the narrative “India’s
pmmodi-ss-20-02-15

Modi hammers resistance for blocking section of Land Bill in RS

March-05-2015
Affirming that the area bill is not hostile to rancher, Prime Minister Narendra Modi today scrutinized the restriction for making obstacles in
IN03_RAJNATH_1981452f

Strict Action against those exasperating collective amicability, says Rajnath Singh

March-04-2015
Strict move will be made against the individuals who aggravate collective amicability, government declared in Rajya Sabha on Wednesday while expressing that
1425454837antibiotics

India lessens costs of 509 crucial medications

March-04-2015
New Delhi: National Pharmaceutical Pricing Authority (NPPA) has settled the max cost of 509 vital medications, which prompted a drop in costs
Yogendra-Ashish-Arvind--PTI

Kejriwal Vs Yogendra Yadav: Know ‘actual reasons’ the reason knives are out in AAP’s session of thrones

March-04-2015
knives are out in Arvind Kejriwal drove Aaam Aadmi Party which as of late came to power in Delhi in the wake