Moneycontrol
Sep 12, 2017 06:12 PM IST | Source: PTI

Gold, silver decline further on global cues

Standard gold (99.5 purity) declined by Rs 200 to close at Rs 29,870 per 10 grams from Monday's finish of Rs 30,070.

Gold remained weak for the second day as prices fell by Rs 200 per ten grams at the bullion market here today, tracking a weak trend overseas amid slackened demand from local jewellers.

Silver too remained under selling pressure and shed Rs 55 per kg.

Standard gold (99.5 purity) declined by Rs 200 to close at Rs 29,870 per 10 grams from Monday's finish of Rs 30,070.

Pure gold (99.9 purity) also fell by a similar margin to settle at Rs 30,020 per 10 grams as compared to Rs 30,220 yesterday.

Silver (.999 fineness) moved down by Rs 55 to end at Rs 40,515 from Rs 40,570 earlier.

Globally, Gold hit its lowest in more than a week as ebbing concerns over North Korea's nuclear ambitions and the impact of Hurricane Irma fuelled further gains in equities, tempering demand for the metal as a haven from risk.

Spot gold was at USD 1,326.50 an ounce at early trade.

Among other precious metals, silver was down 0.2 per cent at USD 17.76 an ounce.
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