Gold, silver costs fall on tepid demand

New Delhi, Apr 30 Gold costs fell by Rs 55 to Rs 32,945 for each 10 gram at the bullion showcase here on Tuesday because of tepid demand from jewellers, as per the All India Sarafa Association.

Tracking gold, silver also dropped by Rs 200 to Rs 38,500 for every kg because of decreased offtake by mechanical units and coin makers.

Traders said easing demand from local jewellers at the domestic market prompted the decrease in costs, but a firm trend overseas restricted the fall.

Comprehensively, spot gold was trading higher at USD 1,285.40 an ounce, while silver was up at USD 15.06 an ounce in New York.

In the national capital, gold of 99.9 percent and 99.5 percent immaculateness declined by Rs 55 each to Rs 32,945 and Rs 32,775 for every 10 gram, respectively.

However, sovereign gold held steady at Rs 26,400 per eight gram.

Silver ready slumped by Rs 200 to Rs 38,500 for each kg and week by week based conveyance diminished by Rs 28 to Rs 37,222 for each kg.

On the other hand, silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.