npavan78
25-02-2009, 07:25 AM
Gold prices on Tuesday snapped its rising trend and declined marginally by Rs 40 per ten grams to Rs 15,705 due to mild selling pressure
from stockists in view of weak overseas advices.
Silver prices, however, inched up slightly on mild industrial demand.
Lack of buying interest at higher levels coupled with lower global advices affected the prices of yellow metal, dealers said.
Gold
futures fell in New York on Monday on profit, taking after its recent rally that had sent prices above $ 1,000 an ounce. Gold for February ended down by $ 7.20 an ounce to $ 994.60 an ounce on the Comex Division of the New York Mercantile Exchange. Silver March delivery ended lower at $ 14.45 an ounce.
Turning to the local market, standard gold (99.5 purity) fell by Rs 40 per ten grams to Rs 15,705 from the last weekend's level of Rs 15,745.
Pure gold (99.9 purity) also moved down to Rs 15,780 from Rs 15,810.
However, silver ready (.999 fineness) edged up to Rs 23,235 per kilo from Rs 23,230 previously.
from stockists in view of weak overseas advices.
Silver prices, however, inched up slightly on mild industrial demand.
Lack of buying interest at higher levels coupled with lower global advices affected the prices of yellow metal, dealers said.
Gold
futures fell in New York on Monday on profit, taking after its recent rally that had sent prices above $ 1,000 an ounce. Gold for February ended down by $ 7.20 an ounce to $ 994.60 an ounce on the Comex Division of the New York Mercantile Exchange. Silver March delivery ended lower at $ 14.45 an ounce.
Turning to the local market, standard gold (99.5 purity) fell by Rs 40 per ten grams to Rs 15,705 from the last weekend's level of Rs 15,745.
Pure gold (99.9 purity) also moved down to Rs 15,780 from Rs 15,810.
However, silver ready (.999 fineness) edged up to Rs 23,235 per kilo from Rs 23,230 previously.