Gold prices dip by Rs 200 per 10 gm to 2-week low
9 March 2013 7:58 AM IST
Gold prices dipped to two-week low by falling Rs 200 to Rs 29,850 per 10 gm in the national capital on Friday on stockists selling, triggered by a weak global trend.
Silver followed suit and dropped by Rs 360 to Rs 54,960 per kg on reduced offtake by industrial units and coin makers.
Traders said stockists selling in tandem with a weak global trend where gold fell before a report that is forecast to show the US labor market improved, damping expectations for further stimulus and boosting the dollar, dampened the sentiment.In Singapore, which normally set price trend on the domestic front, gold lost 0.2 per cent to $1,576.35 an ounce and silver slid 0.4 per cent to $28.80 an ounce.Besides, rising equity attracted investor to parked their funds for quick gains was another factors behind fall in gold.
Sovereign declined by Rs 50 to Rs 25,250 per piece of eight gram.
Silver followed suit and dropped by Rs 360 to Rs 54,960 per kg on reduced offtake by industrial units and coin makers.
Traders said stockists selling in tandem with a weak global trend where gold fell before a report that is forecast to show the US labor market improved, damping expectations for further stimulus and boosting the dollar, dampened the sentiment.In Singapore, which normally set price trend on the domestic front, gold lost 0.2 per cent to $1,576.35 an ounce and silver slid 0.4 per cent to $28.80 an ounce.Besides, rising equity attracted investor to parked their funds for quick gains was another factors behind fall in gold.
Sovereign declined by Rs 50 to Rs 25,250 per piece of eight gram.
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