Gold slips Rs 70 to Rs 34,000/10gm on muted demand

New Delhi, Jan 31 Snapping its upward trend, gold costs Thursday declined by Rs 70 to Rs 34,000 per 10 gram at the bullion market here on subdued demand from jewellers, as indicated by All India Sarafa Association.

Silver, in any case, progressed by Rs 20 to Rs 41,350 for every kg on expanded offtake industrial units and coin makers.

Brokers stated, quelled interest from nearby gem specialists put weight on the costs of the yellow metal however a firm trend overseas helped in reducing the decline.

Globally, gold rose to USD 1,318.86 an ounce and silver rose to USD 16.02 an ounce in New York.

In past three days, gold costs had increased by Rs 770.

In the national capital, gold of 99.9 percent and 99.5 percent purities reduced by Rs 70 each to Rs 34,000 and Rs 33,850 for each 10 gram, respectively.

However, sovereign gold held unfaltering at Rs 25,900 per piece of eight gram.

Silver ready rose by Rs 20 to Rs 41,350 for every kg and week by week based declined by 44 to Rs 40,390 per kg.

On the other side, silver coins continued to be traded at previous level of Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.