Gold snaps 4-day rally, silver slides too

Snapping a four-day rally, gold on Friday declined marginally by Rs 40 to Rs 33,030 per 10 gram at the bullion market here on subdued demand from local jewellers, according to All India Sarafa Association.

Silver too slumped by Rs 60 to Rs 40,450 per kg on weak demand from industrial units and coin makers.
Traders said lacklustre demand from local jewellers and weak global cues put pressure on prices of the yellow metal.

Globally, gold held steady at USD 1,294.06 an ounce and silver stood at USD 15.74 an ounce in New York.

The precious metal had risen by Rs 570 in the previous four days.
In the national capital, gold of 99.9 per cent and 99.5 per cent purities declined by Rs 40 each to Rs 33,030 and Rs 32,880 per 10 gram, respectively.

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