Prices gold turn down, touching nearly Rs 29000


Mumbai :Demand in outside countries decline and  jewelers and weak customer demand in Delhi bullion market  the capital, gold today fell by Rs 185 per 10 grams to Rs 29 040. On the other side, silver 39,200 per kg on scattered support levels held steady.

Traders said that gold in the global market has come down from a schedule of 5-week high. The decline trend in global market result the decline demand in domestic spot market and the jewelers and retailers at prevailing levels reduce their demand for gold.

Rs 67,000 and Rs 68,000 for selling of buyers, hundred silver coins remained unaffected at close. In Delhi, gold of 99.9 and 99.5 per cent purity declined by Rs 185-185 price of respectively 29 040 and 28 890 per 10 grams to close at Rs occurred. On Saturday gold gained upto Rs 505. However, ginni got support and buying sovereign retail prices rose by Rs 100 to Rs 22,900 per 8 grams closed. Silver remained steady at Rs 39200 per kg, while silver weekly-based delivery rose by Rs 75 per kg to Rs 39 155 were closed.

Rupee against dollar due to growing prices of these precious metals become cheaper imports which have an impact on the trading sentiment. Meanwhile, in the foreign exchange market, the rupee strengthened by 33 paisa to Rs 66.92 billion. Global markets, which usually set price of gold trend on the domestic market, fell by 0.18 percent in Singapore; the price fell to 1241.20 dollars. While the price of silver fell by 0.03 per cent to 16.38 dollar an ounce remained.