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Gold, silver slide on muted demand

Mumbai, Jul 12 (PTI) Gold tumbled by Rs 235 per 10 grams at the bullion market here today on muted demand from local jewellers even as the precious metal strengthened overseas.

Silver also fell by Rs 365 per kg due to reduced offtake by industrial units.

Standard gold (99.5 per cent purity) declined by Rs 235 to close at Rs 30,145 per 10 grams from Wednesday's closing level of Rs 30,380.

Pure gold (99.9 per cent purity) also went down by the same amount to finish at Rs 30,295 per 10 grams as against Rs 30,530 previously.

Silver (.999 fineness) fell by Rs 365 per kg to close at Rs 38,765 against Rs 39,130 previously.

Globally, gold steadied as the dollar came off the boil, though the market lacked direction and seemed unable to capitalise on escalating trade tensions.

Spot gold was up 0.2 per cent at USD 1,244.95 at early trade.

Silver was 0.7-per cent higher at USD 15.85 an ounce. PTI RD ABM

ABM

Disclaimer: This story has not been edited by BW staff and is auto-generated from a syndicated feed.


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