1. You Are At:
  2. Home
  3. Business News
  4. Gold Snaps 3-Day Rally On Reduced Off Take, Down By Rs 100

Gold Snaps 3-Day Rally On Reduced Off Take, Down By Rs 100

New Delhi, Feb 24: After a three-day rally, gold today lost Rs 100 to Rs 28,940 per 10 grams on reduced off take at existing higher levels amid weakening global trend. However, silver spurted by

PTI [ Updated: February 24, 2012 18:58 IST ]
gold snaps 3 day rally on reduced off take down by rs 100
gold snaps 3 day rally on reduced off take down by rs 100

New Delhi, Feb 24: After a three-day rally, gold today lost Rs 100 to Rs 28,940 per 10 grams on reduced off take at existing higher levels amid weakening global trend. However, silver spurted by Rs 900 to Rs 58,300 per kg on increased off take by industrial units and coin makers.


The trading sentiment in gold turned weak on reduced off take by stockists and jewellers at higher levels and a weak trend in overseas markets.

They said increased demand from industrial units and coin makers helped silver to regain the crucial Rs 58,000-level.

In Singapore, gold declined 0.3 per cent to USD 1,775.18 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity declined by Rs 100 each to Rs 28,940 and Rs 28,800 per 10 grams, respectively. The metal had gained Rs 810 to Rs 29,040 in last three sessions.

However, sovereigns held steady at Rs 23,500 per piece of eight gram in limited deals.

On the other hand, silver ready spurted by Rs 900 to Rs 58,300 per kg and weekly-based delivery by Rs 1,125 to Rs 58,400 per kg. Silver coins climbed by Rs 2,000 to Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.

Write a comment