Gold declines marginally, silver sheds Rs 400 on poor offtake

Both gold and silver declined in the bullion market here today on reduced offtake by stockists at existing higher levels.

While gold moved down marginally by Rs 15 to Rs 29,650 per 10 grams, silver fell by Rs 400 to Rs 52,400 per kg.

Traders said lack on demand from retailers, jewellers and industrial units due to prevailing higher levels led to a fall in precious metals' prices.

Gold of 99.9 per cent and 99.5 per cent purity declined by Rs 15 each to Rs 29,650 and Rs 29,450 per 10 grams, respectively.

Sovereign remained steady at Rs 24,300 per piece of eight grams in limited deals.

Silver ready fell by Rs 400 to Rs 52,400 per kg and weekly-based delivery by Rs 320 to Rs 52,750 per kg, respectively.

Silver coins held steady at Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.

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