Zee Media Bureau
New Delhi: The biggest gold buying festival - Akshaya Tritiya - failed to enthuse the spirit of buyers as the precious metal finished marginally lower at the domestic bullion markets Tuesday.
In the National Capital, gold prices fell by Rs 100 to Rs 27,100 per 10 grams. Similar was the trend in other cities.
Gold prices in Mumbai slipped by Rs 45 to Rs 26,695 per 10 grams. Similarly in Kolkata, gold fell by Rs 105 to Rs 27,105 per 10 grams, while in Chennai it declined to Rs 27,020 per 10 grams from last close of Rs 27,200.
Despite ongoing wedding and festive season buzz, gold witnessed a relatively quiet and side-way momentum as buyers preferred to remain on the sidelines awaiting further price correction and expectations of import duty cut.
Though, token buying by retailers and consumers on the auspicious occasion limited the losses, a bullion trader said.
At the Multi Commodity Exchange (MCX), gold for delivery in June month contracts, however, gained Rs 99, or 0.37 percent, to Rs 26,936 per ten grams.
Meanwhile, in worldwide trade, gold managed to trade above the key psychological USD 1,200 benchmark despite strong dollar and a rally in global equities.
Spot gold was bid higher at USD 1,201.5 an ounce in European trade, while spot silver quoted up at USD 16.06 an ounce.
Delhi
In the national capital, gold of 99.9 and 99.5 percent purity fell by Rs 100 each to Rs 27,100 and Rs 26,950 per 10 grams, respectively. Silver also dropped Rs 560 to Rs 36,440 per kg on reduced offtake by industrial units and coin makers.
Mumbai
Standard gold (99.5 purity) declined by Rs 45 to end at Rs 26,695 per 10 grams from Monday's level of Rs 26,740.
Pure gold (99.9 purity) also shed by a similar margin to finish at Rs 26,845 per 10 grams compared to Rs 26,890.
Silver (.999 fineness) eased by Rs 20 to settle at Rs 37,130 per kg as against Rs 37,150 yesterday.
Chennai
Gold: Rs 27,020 per 10 grams; Silver: Rs 36,420 per kg
Bengaluru
Gold: Rs 27,127 per 10 grams; Silver: 37,000 per kg
Kolkata
Gold: Rs 27,105 per 10 grams; Silver: Rs 36,350 per kg
Hyderabad
Gold: Rs 27,300 per 10 grams; Silver: Rs 38,000 per kg
