MUMBAI – Gold continued to lose ground, ending down for a fifth session at the bullion market here on Friday on steady profit taking by stockists and traders coupled with absence of any largescale retail demand despite the ongoing festival season.
Silver also fell on reduced speculative demand from investors.
Standard gold (99.5 purity) declined by Rs 90 per 10 gm to end at Rs 30,675 from Thursdays closing level of Rs 30,765.
Pure gold (99.9 purity) dipped by Rs 60 per 10 gm to conclude at Rs 30,840 from Rs 30,900.
Silver ready (.999 fineness) dropped by Rs 135 per kg to finish at Rs 60,140 as compared to Rs Rs 60,275 yesterday.
In Europe, gold traded lower on investor selling amid disappointing corporate earnings reports as well as caution over US thirdquarter growth data.
Spot gold was bid down at $1,703.86 an ounce (28 gm) in early trade and silver was bid lower at $31.72 an ounce.
Follow this link to join our WhatsApp group: Join Now
Be Part of Quality Journalism |
Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast. |
| ACT NOW |
| MONTHLY | Rs 100 |  |
| YEARLY | Rs 1000 | |
| LIFETIME | Rs 10000 | |
