NEW DELHI: Gold and silver prices declined in the bullion market here on emergence of selling by stockists, triggered by weakening trend in the
Gold slipped below the Rs 15,000-level and lost Rs 160 to Rs 14,960 per 10 gram and silver also plunged by Rs 500 to Rs 23,000 per kg on reduced offtake by industrial units.
Marketmen said selling activity picked up after reports that the precious metals fell sharply in the overseas market. Gold in New York fell to 959 dollar an ounce from 986 dollar an ounce in the previous day.
They said falling demand in the domestic markets following off marriage and festival season also led to the decline.
Standard gold and ornaments tumbled by Rs 160 each to Rs 14,960 and Rs 14,810 per 10 gram, respectively. Sovereign lost Rs 50 to Rs 12,400 per piece of eight gram.
In a similar fashion, silver ready plunged by Rs 500 to Rs 23,000 per kg and weekly-based delivery by Rs 870 to Rs 23,690 per kg, respectively. Its coins also lost Rs 100 at Rs 29,600 for buying and Rs 29,700 for selling of 100 pieces.
