Gold slips below Rs 79,000 per 10 gm on reduced demand, global cues
capital on Wednesday due to poor offtake by stockists and retailers amid weak global trends, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity fell by Rs 150 to Rs 78,850 per 10 grams. It had closed at Rs 79,000 per 10 grams in the previous session.
Price of gold of 99.5 per cent purity extended the losses for the third straight day, declining by Rs 150 to Rs 78,450 per 10 grams from the previous close of Rs 78,600 per 10 grams.
However, silver rose Rs 100 to Rs 92,500 per kg. On Tuesday, the white metal had settled at Rs 92,400 per kg.
In futures trade on the Multi Commodity Exchange (MCX), gold contracts for February delivery fell Rs 93 or 0.12 per cent to trade at Rs 76,810 per 10 grams.
Silver contracts for March delivery declined Rs 322 or 0.35 per cent to Rs 91,875 per kg on the bourse.
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