Bullion: taking weak cues from the global markets and

fall in demand from local jewellers, gold prices cracked below Rs 29,000-mark to close at six-week low of Rs 28,900 per 10 grams at the bullion market during the week. fall in demand from

local jewellers, gold prices cracked below Rs 29,000-mark to close at six-week low of Rs 28,900 per 10 grams at the bullion market during the week. Silver followed suit and suffered setback

of Rs 2,465 to Rs 37,400 per kg on reduced offtake by industrial units and coin makers. Trading activity was restricted following a cautious approach as the government imposed a 3 per cent

GST on gold. Traders said sentiment was downbeat largely in sync with a weak trend overseas and considerable fall in demand from local jewellers and retailers at domestic spot market.

Globally, gold ended the week lower at USD 1,212.20 an ounce and silver at USD 15.57 an ounce in New York. In the national capital, gold of 99.9 and 99.5 per cent purity commenced the week

on a subdued note and fell to six- week low of Rs 28,930 and Rs 28,780 per 10 grams respectively largely on the back of weak trend overseas. Later, it bounced back to Rs 29,150 and Rs 29,000

per 10 grams before finally settling at Rs 28,900 and Rs 28,750 per 10 grams respectively, showing a sharp fall of Rs 510 each. Sovereign, however, moved in a narrow range in limited deals

and settled at last level of Rs 24,400 per piece of eight gram. Silver ready stayed in the negative terrain for the major part of week and settled the week down by Rs 2,465 to Rs 37,400 per

kg and weekly-based delivery by Rs 2,115 to Rs 36,230 per kg. Silver coins too plunged by Rs 2,000 to Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces. (This article has not been

edited by DNA's editorial team and is auto-generated from an agency feed.)