Bullion Market: Gold and Silver

Continued fluctuations in foreign markets and domestic demand is been observed. In the domestic bullion market gold price was down to three-week low. However, silver remained at the old price. Gold declined by Rs 250 per Rs. 31,850 in the local market fell ten grams. Gold reached to the lowest level  since September 3rd. Silver price were per kilo to Rs 60,600 remained stagnant.

In London on the last day of trading in London during the gold recovered from the decline of 0.2 per cent to $ 1755.69 per ounce as entered.Meanwhile, silver rose 0.3 per cent to 34.04 dollars per ounce. Here, not gold offtake in the domestic market at the local level with a loss of Rs 31,850 to Rs 250 per ten grams left. Since September 3 gold has reached to the minimum level of Rs.31,610 rupees per ten grams.

Guinea also declined by Rs 50 to Rs 25,400 per cent. Silver remained at Rs. 60,600 rupees per kg. Silver coins were increased to Rs 1,000. Silver coin buying and selling at Rs. 77,000 and Rs. 78,000 rupees hundred. Businesses that do not subscribe to the local market. Traders complain about not having much customers in the market. Demand of the Bullion metals is low. Retailers are hesitant to come to the market. However, the festive season demand for jewellery is expected to increase.