Gold loses Rs 25, silver gains Rs 200

New Delhi: A divergent trend was witnessed on the bullion market here today as gold declined by Rs 25 to Rs 28,265 per 10 grams on subdued demand, while silver rose by Rs 200 to Rs 58,000 per kg on increased offtake by industrial units.

Traders said sluggish demand due to the wedding season coming to an end mainly led to the decline in gold prices.

Rising trend in equity markets also reduced the demand for the precious metal among investors, they said, adding that buying by industrial units buying led to the increase in silver prices.

Gold of 99.9 and 99.5 per cent purity declined by Rs 25 each to Rs 28,265 and Rs 28,125 per 10 grams, respectively. Sovereign held steady at Rs 23,500 per piece of eight grams on limited deals. Silver ready rose by Rs 200 to Rs 58,000 per kg and weekly-based delivery by Rs 160 to Rs 58,935 per kg.

However, silver coins remained stable at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.