Gold prices fell by Rs50 to trade at Rs27,250 per 10 grams in the bullion market today on slacking demand from jewellers even as it made gains in overseas market. Silver, however, attracted increased buying support from industrial units and edged up Rs50 to Rs37,900 per kg. Bullion traders attributed the fall in gold prices to a decline in demand from jewellers as well as retailers at current levels but firming global trend capped the fall.
Globally, gold rose by 0.6 per cent to $1,188.90 an ounce and silver by 1 per cent to $16.46 an ounce in New York in yesterday's trade. In the national capital, gold of 99.9 as well as 99.5 per cent purity declined by Rs50 each to Rs27,250 and Rs27,100 per 10 gram respectively. It had gained Rs70 on Friday. Sovereign, however, continued to be traded at last level of Rs23,700 per piece of eight gram. On the other hand, silver ready rose by Rs50 to Rs37,900 per kg while weekly-based delivery by Rs120 to Rs37,935 per kg. Meanwhile, silver coins unaltered at Rs56,000 for buying and Rs57,000 for selling of 100 pieces.