India: Gold prices marginally down on lack of buying support
Despite firming trends in Asian markets, gold prices declined on the bullion market today due to sluggish demand from local parties and closed lower by Rs 5 at Rs 9,345 per ten grams.
Silver weekly-based delivery also moved down on fresh selling by speculators.
Activity remained restricted in gold following sluggish demand from local parties at prevailing higher levels.
In Asian markets, gold rose by 2.05 US dollars at 649.90 dollars an ounce.
Standard gold and ornaments lost Rs 5 each at Rs 9,345 and Rs 9,195 per ten grams respectively, while sovereign lost Rs 50 at Rs 7,700 a piece of eight grams.
Silver weekly-based delivery also moved down by Rs 120 at Rs 19,700 per kilo on selling by speculators but silver ready remained flat at Rs 19,600 per kilo on scattered deals.
Silver coins, however, remained unaltered at Rs 23,600 for buying and Rs 23,700 for selling of 100 coins.
— PTI
