Gold costs fall Rs 100 on low demand from jewellers

New Delhi, Mar 12 Gold costs on Tuesday fell by Rs 100 to Rs 33,150 for each 10 gram in the national capital mainly due to subdued demand from local jewellers, as per the All India Sarafa Association.

Silver, however, gained Rs 50 to Rs 39,580 for each kg on expanded offtake by industrial units and coin makers.

Brokers said low interest from domestic jewellers and investors' increased focus on values pulled down the gold costs.

On Monday, the 30-share Sensex jumped 383 to close at an almost half year high of 37,052. On Tuesday also, it was trading 503.36 points higher during the day.

Globally, gold costs were trading higher at USD 1,296.80 per ounce and silver was up at USD 15.49 an ounce in New York.

In the national capital, gold of 99.9 percent and 99.5 percent virtue drooped Rs 100 to Rs 33,150 and Rs 32,980 for each 10 gram, respectively.

Sovereign, in any case, stayed level at Rs 26,400 for each eight gram.

Silver ready rose Rs 50 to Rs 39,580 for every kg, though the value fell Rs 55 to Rs 38,660 for every kg for week by week based conveyances.

Price for a lot of 100 silver coins was almost flat at Rs 80,000 for purchase and Rs 81,000 for sale.