Gold loses sheen, falls Rs 135 on tepid demand

New Delhi, May 15 Gold prices Wednesday dropped by Rs 135 to Rs 33,260 per 10 gram in the national capital on dull interest from jewellers, as per the All India Sarafa Association.

Silver prices too fell by Rs 100 to Rs 38,200 per kg on reduced offtake by industrial units and coin makers.

Then, a possibility of US-China trade talks revival boosted financial market sentiment globally, prompting investors to take position in values instead of other safe haven investments like bullion, analysts said.

In any case, evading the worldwide pattern, Indian stocks fell on Wednesday.

All around, spot gold was exchanging barely higher at USD 1,299.40 an ounce, while silver was up at USD 14.92 an ounce in New York.

In the national capital, gold of 99.9 percent and 99.5 percent virtue dropped by Rs 135 each to Rs 33,260 and Rs 33,090 for each 10 gram, respectively.

On Tuesday, the valuable metal had picked up Rs 377.

Sovereign gold, anyway held relentless at Rs 26,500 for each eight gram.

In the mean time, silver prepared declined by Rs 100 to Rs 38,200 for each kg, while weekly-based delivery fell Rs 47 to Rs 37,510 per kg.

Then again, silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.