1. You Are At:
  2. Home
  3. Business News
  4. Gold, Silver Drop On Global Sluggishness

Gold, Silver Drop On Global Sluggishness

Mumbai, Feb 25: Gold prices moved down further at the bullion market here today due to subdued retail buying interest at existing levels following bearish overseas sentiment.Silver also fell back modestly after recent spike due

PTI [ Updated: February 25, 2012 19:11 IST ]
gold silver drop on global sluggishness
gold silver drop on global sluggishness

Mumbai, Feb 25: Gold prices moved down further at the bullion market here today due to subdued retail buying interest at existing levels following bearish overseas sentiment.


Silver also fell back modestly after recent spike due to reduced speculative activity.

Standard gold of 99.5 per cent purity edged down by Rs 20 to settle at Rs 28,510 per 10 grams from Friday's closing level of Rs 28,530.

Pure gold of 99.9 per cent purity softened by Rs 15 to close at Rs 28,640 per 10 grams from Rs 28,655.  Silver ready (.999 fineness) declined by Rs 75 per kg to finish at Rs 58,115 as compared to Rs 58,190 yesterday.

In New York, gold slipped, cutting short a three-day rally on the back of stronger dollar valuation and positive US macroeconomic data.

Gold for April delivery fell USD 9.90 to USD 1,776.40 an ounce on the Comex division of the NYMEX late yesterday.

Silver March contract lost 22 cents to USD 35.34 an ounce.

Write a comment