Mumbai: Tracking a weak trend in global market and fall in demand from jewellers at current levels, gold remained weak for the third straight day as prices fell by another Rs15 per ten grams at the bullion market on Thursday.
However, silver strengthened by gaining Rs10 per kg due to increased offtake by industrial units. Standard gold (99.5 purity) eased by Rs15 to end at Rs28,745 per 10 grams from Wednesday’s level of Rs 28,760. Pure gold (99.9 purity) also moved down to close at Rs 28,895 per 10 grams as compared to Rs 28,910.
However, silver (.999 fineness) rose by Rs 10 per kg to finish at Rs 42,510 as compared to Rs 42,500 earlier. Globally, gold dipped as the dollar strengthened, but economic uncertainty around Britain’s departure from the European Union and the approaching French elections capped losses.
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Spot gold was down 0.1% at $1,250.66 an ounce at early trade.
In other precious metals, spot silver slid as much as 0.5% to $18.15 an ounce, after hitting a four-week high of $18.25 in the previous session.
