Gold dips in Diwali trade, silver ends flat

Traders attributed the fall in gold prices to absence of activity as jewellers kept buying restricted.

By: PTI | New Delhi | Published:October 30, 2016 7:03 pm

Gold, silver, gold prices, gold falls, gold prices fall, market, india business, business news, indian express

Gold prices drifted lower by Rs 100 to Rs 30,650 per 10 grams in special ‘Diwali Muhurat’ trading at the bullion market on Sunday in the absence of worthwhile activity. However, silver held steady at Rs 43,000 per kg on scattered buying support from industrial units and coin makers.

Traders attributed the fall in gold prices to absence of activity as jewellers kept buying restricted. They, however, added that token buying activity on the auspicious occasion of ‘Diwali’ and the beginning of Hindu Samvat Year 2073 capped the fall.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 100 each to Rs 30,650 and Rs 30,500 per 10 grams respectively. It had gained Rs 160 on Saturday. Sovereign, however, remained steady at Rs 24,500 per piece of eight gram.

On the other hand, silver ready ended flat at Rs 43,000 per kg. Silver weekly-based delivery followed suit and finished at its previous level of Rs 42,540 per kg. Silver coins also remained unaltered at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.