Gold costs drifted lower by Rs 155 to Rs 31,125 per ten grams today following its weakness worldwide along with modest requirement from jewelers in domestic spot market. Silver also damaged below the Rs 47,000-mark by dropping Rs 400 to Rs 46,950 per kg due to decreased off take by industrial units and coin makers.
The decrease comes a day after gold had increased by Rs 310 to Rs 31,280 per ten grams, while silver had obtained Rs 1,050 to Rs 47,350 per kg on Wed. investors said that further a weak pattern in the overseas markets today, slackened requirement from jewelers and suppliers at current stages at domestic spot market led to the autumn in costs here.
In worldwide markets, gold dropped 0.4 % to USD 1,341.50 an ounces in Singapore. Besides, reducing requirement from jewelers and suppliers at current stages at domestic spot market considered on costs. In the national capital, gold of 99.9 % and 99.5 % cleanliness decreased by Rs 155 each to Rs 31,125 and Rs 30,975 per 10 grams, respectively. The precious metal had increased by Rs 310 last night.
Sovereign, however, held stable at Rs 24,300 per piece of eight grams. Monitoring gold, silver ready decreased by Rs 400 to Rs 46,950 per kg and weekly-based distribution by Rs 330 to Rs 46,830 per kg. Silver coins, too delved by Rs 1,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 items.
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