Saturday, September 21, 2013

silver spot price : Gold, silver extend losses on sustained selling

silver spot price



NEW DELHI: The rates of both precious mining harvests, gold and silver, chop down further in the national capital on Saturday upon sustained selling by stockists on the back involving sluggish demand amid the weak global trend.

While gold plunged by Rs280 to Rs 35,500 per ten grammes in continuation which has a loss of Rs30 on Friday, silver dropped by simply Rs1,600 to Rs49,500 per kg after easing Rs a hundred in the previous program poor offtake by jewelers and industrial units.

Professionals said sustained selling through stockists against sluggish require due to ongoing “Sharads,” an inauspicious two weeks in Hindu mythology to make fresh purchases mainly drawn down the prices.

The trainer told us trading sentiment dampened additional on weak global vogue as a Federal Arrange policy maker said a “small taper” in obama's stimulus may occur in March reduced demand for the particular precious metals as another investment.

Gold in in another country markets, which normally fixed price trend on the actual domestic front, fell aside 2.7 per dime to $1,332.55 an ounce, the largest drop since July v. Silver fell 5.in search of per cent to $twenty-one.92 an ounce, the largest drop since June thirty.

On the domestic the front, gold of 99.ix and 99.5 % purity plunged by Rs280 each to Rs30,500 and Urs 30,300 per x grammes, respectively. It experienced shed Rs30 on Exclusive.

Sovereign followed suit and declined by Rs a hundred to 25,100 for each piece of eight grammes.

Silver ready and also weekly-based delivery tumbled by Rs 1,600 each to Rs49,500 per kilo, respectively. The white alloy had lost Rs100 inwards last trade.

Silver cash also dropped by Rs1000 to Rs85,500 for buying and Rs86,000 for offering of 100 pieces.

silver spot price

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