Gold prices up ₹100; silver slides ₹140

New Delhi-India (Dec 5)  Gold prices on Wednesday rose by ₹100 to close at ₹31,950 per 10 gram at the bullion market in the national capital on an uptick in retail buying by local jewellers even though bleak market trend overseas restricted the gains further.

Silver, on the other hand, dropped by ₹140 to close at ₹37,600 per kg due to slightly lower demand from industrial units and coin makers.

Traders said demand from local jewellers in the ongoing wedding season lifted the gold prices though the gains were capped by subdued trend overseas, while the silver prices saw a fall on slightly reduced orders from industrial units and coin makers.

In the national capital, gold of 99.9% and 99.5% purity rose by ₹100 each to ₹31,950 and ₹31,800 per 10 gram, respectively.

Sovereign gold also saw a rise Wednesday by ₹100 to ₹24,800 per piece of 8 gram.

However, globally, gold traded lower at $1,235.02 an ounce in New York, while silver was slightly down at $14.45 an ounce.

Meanwhile, silver ready fell by ₹140 to ₹37,600 per kg, while weekly-based delivery was almost flat rising only ₹26 to ₹36,394 per kg.

Silver coins, however, moved up by ₹100 to ₹73,000 for buying and ₹74,000 for selling of 100 pieces.

TheHindu