Silver, Gold fall during the week
The precious metals fell at the domestic bullion market during the week ended today under review, as Silver tumbled by Rs 1,015 to Rs 61,335 per kg and Gold shed by Rs 80 to Rs 30,925 per ten gm on selling pressure from stockists coupled with weak global cues.
Barring Monday, Silver remained weak throughout the week. On Monday, it rose by Rs 580 to end at Rs 62,930 per kg on encouraging demand from stockists.
Next day, it erased the earlier gains and remained weak till today.
On Tuesday, Silver nosedived by Rs 610 per kg and on Wednesday it slipped by Rs 30 on selling pressure from stockists. On Thursday and Friday, it shed by Rs 350 and Rs 180 per kg, respectively. Today it lost by Rs 425 to end at Rs 61,335 per kg.
With this, Silver was down by Rs 1,015 per kg as compared to the previous week's close.
Silver registered the week's high at Rs 62,930 per kg on December 10 and low at Rs 61,335 on December 15.
Gold was highly volatile during the week. On Monday, it edged up by Rs 200 to end at Rs 31,205 per ten gm. Next day, it slipped by Rs 145 per ten gm on profit booking by local operators.
On Wednesday, it increased by Rs 55 but pared gains next day when it slumped by Rs 270 to end negative at Rs 30,930 per ten gm.
On Friday, it recovered by Rs 85 per ten gm, but eased today by Rs 5 to end at Rs 30,925 per ten gm.
Gold was down by Rs 80 per ten gm as against the previous week's close.
Gold registered the week's high at Rs 31,205 per ten gm on December 10 and low at Rs 30,925 per ten gm on December 15.
The prcious metals were also in red in Asian Markets, where Gold was quoted at USD 16.94 an ounce as against the last week's close of USD 17.80 an ounce.
Silver was at USD 31.77 per ounce compared with the last week's close of USD 32.28 an ounce.