Gold prices fell by Rs 130 to hit a 10-month low of Rs 28,580 per 10 grams on Friday Dec 09,2016 amid a weakening global trend and a considerable decline in demand from jewellers at the domestic spot market.
Silver, however, firmed up further by Rs 250 to Rs 41,850 per kg due to increased offtake by industrial units and coin makers.
Traders said sentiment was downbeat, largely in step with a subdued global trend, as a surging dollar somewhat took the sheen off the precious metals as a safe haven.
Besides, a decline in demand from jewellers in view of the prevailing cash crunch weighed heavy on gold prices, they said.
Globally, gold fell 0.15 per cent to $1,168.60 an ounce in Singapore
Silver, however, firmed up further by Rs 250 to Rs 41,850 per kg due to increased offtake by industrial units and coin makers.
Traders said sentiment was downbeat, largely in step with a subdued global trend, as a surging dollar somewhat took the sheen off the precious metals as a safe haven.
Besides, a decline in demand from jewellers in view of the prevailing cash crunch weighed heavy on gold prices, they said.
Globally, gold fell 0.15 per cent to $1,168.60 an ounce in Singapore
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