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  • Gold slips by Rs 10, silver gains Rs 50

    Published on July 27, 2012

    Mumbai : After a six-day rally, gold prices declined marginally by Rs 10 to Rs 30,300 per 10 grams in the bullion market on Friday on fall in demand, while silver rose by Rs 50 to Rs 53,100 per kg on buying support.

    Traders said gold fell due to reduced offtake at existing higher levels, while silver rose on sustained buying by industrial units.

    On the domestic front, gold of 99.9 and 99.5 per cent purity shed Rs 10 each to Rs 30,300 and Rs 30,100 per 10 grams, respectively. The metal had gained Rs 680 in last six days.

    Sovereign also declined by Rs 50 to Rs 24,450 per piece of eight grams.

    Silver ready strengthened by Rs 50 to Rs 53,100 per kg, while weekly-based delivery fell by Rs 70 to Rs 53,280 per kg on lack of buying support.

    Silver coins lost Rs 1,000 to Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces on fall in demand.