Gold drops; silver cracks below 39K-mark

Source: The Hitavada      Date: 23 Dec 2016 09:16:16


NEW DELHI,

Dec 22,

(PTI),

GOLD prices drifted lower by Rs 90 to Rs 27,860 per 10 grams Thursday, tracking a weak trend in global market and a fall in demand from local jewellers due to scarcity of funds.


Silver also cracked below the Rs 39,000-mark by plunging Rs 750 to Rs 38,900 per kg on poor offtake by industrial units and coin makers.


In the National Capital, 99.9 per cent and 99.5 per cent purity gold fell by Rs 90 each to Rs 27,860 and Rs 27,710 per 10 grams, respectively.
The yellow metal had gained Rs 100 in yesterday’s trade.
Sovereign, however, continued to be traded at previous level of Rs 24,000 per piece of eight grams in scattered deals.


In tune with gold, silver ready plunged by Rs 750 to Rs 38,900 per kg and the weekly-based delivery by Rs 730 to Rs 38,945 per kg.