Gold extends fall on weak demand; silver recovers

October 8, 2016 7:33 pm
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Gold continued to fall for the fourth straight day at the domestic bullion market today and lost Rs 80 to trade at over three-month low of Rs 30,240 per 10 grams owing to decreased demand from jewellers even as the metal rose overseas.

Silver, however, staged a rebound by gaining Rs 370 to Rs 42,300 per kg on increased offtake by industrial units and coin makers.

Globally, gold rose 0.19 per cent to USD 1,257.60 an ounce in New York yesterday. Silver was up 1.39 per cent at USD 17.53 an ounce.

Silver coins spurted by Rs 1,000 to Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.

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