Gold prices, drifted lower by Rs. 40 to Rs. 32,550 per 10 grams at the bullion market today amid tepid demand from local jewellers and a weak trend overseas, reported .
Silver, however, recovered by Rs. 100 to Rs. 39,600 per kg on back of increased offtake by industrial units, it further said.
Traders said apart from a weak trend overseas, fall in demand from local jewellers and retailers at the domestic spot markets kept the prices of the precious metal lower.
Things to know about gold and silver rates:
1. Globally, gold rose on Friday to a more than three-month peak as investors rushed to the safety of bullion as stock markets around the globe plunged, putting the metal on track for its fourth week of gains, reported .
Spot gold rose 0.2 per cent to $1,234.35 an ounce in the intraday trade, having earlier gained nearly 1 per cent to $1,243.32, its highest since mid-July.
2. In the national capital, gold of 99.9 per cent and 99.5 per cent purity declined by Rs. 40 each to Rs. 32,550 and Rs. 32,400 per 10 grams respectively. It had lost Rs. 35 on Friday.
3. Sovereign gold, also weakened by Rs. 100 to Rs. 24,700 per piece of eight grams.
4. On the other hand, silver ready staged a comeback by rising Rs. 100 to Rs. 39,600 per kg, while silver weekly based delivery fell by Rs. 50 to Rs. 38,710 per kg.
5. Silver coins, however, were unaltered at Rs. 75,000 for buying and Rs. 76,000 for selling of 100 pieces.>