New Delhi: After moving upward for the last four days, gold prices today receded marginally by Rs 5 to Rs 12,210 per 10 gram in the bullion market here on reduced offtake. Run-up to Budget 2008-09
However, silver continued to rise on increased industrial offtake along with strong overseas advices.
Marketmen said fresh resistance in demand due to record high levels and report of a weak trend in global markets mainly pulled down gold prices.
Gold declined by $2.24 to $943.86 an ounce in London. Prices were up 4.6 per cent this week, heading for the biggest weekly advance since November 23.
Standard gold and ornaments lacked necessary buying support and shed Rs 5 each at Rs 12,210 and Rs 12,060 per 10 grams respectively. However, sovereign, remained in demand and advanced further by Rs 100 at Rs 9800 per piece of eight gram.
On the other side, silver ready maintained its rising trend on increased offtake by industrial units and added another Rs 100 to Rs 22,100 per kg, while weekly-based delivery gained Rs 10 at Rs 22,850 per kg.
Silver coins remained steady at Rs 26,200 for buying and Rs 26,300 for selling of 100 coins in limited deals.
However, silver continued to rise on increased industrial offtake along with strong overseas advices.
Marketmen said fresh resistance in demand due to record high levels and report of a weak trend in global markets mainly pulled down gold prices.
Gold declined by $2.24 to $943.86 an ounce in London. Prices were up 4.6 per cent this week, heading for the biggest weekly advance since November 23.
Standard gold and ornaments lacked necessary buying support and shed Rs 5 each at Rs 12,210 and Rs 12,060 per 10 grams respectively. However, sovereign, remained in demand and advanced further by Rs 100 at Rs 9800 per piece of eight gram.
On the other side, silver ready maintained its rising trend on increased offtake by industrial units and added another Rs 100 to Rs 22,100 per kg, while weekly-based delivery gained Rs 10 at Rs 22,850 per kg.
Silver coins remained steady at Rs 26,200 for buying and Rs 26,300 for selling of 100 coins in limited deals.
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