New Delhi, Aug 16 - Gold prices declined by Rs 30 to Rs 30,370 per 10 grams in the bullion market here today due to sluggish demand, while silver rose by Rs 100 to Rs 54,000 on increased offtake.
Traders said subdued demand at prevailing higher levels amid a weak global trend where strengthening dollar curbed demand for the precious metal as an alternate investment.
In London, gold fell by 0.1 per cent to USD 1,601.75 an ounce. Silver prices increased on rise in offtake by industrial units, they added. On the domestic front, gold of 99.9 and 99.5 per cent purity declined by Rs 30 each to Rs 30,370 and Rs 30,170 per 10 grams, respectively. Sovereign remained steady at Rs 24,450 per piece of eight grams.
Silver ready rose by Rs 100 to Rs 54,000 per kg and weekly-based delivery traded marginally higher by Rs 10 to Rs 53,525 per kg. Silver coins continued to be asked around previous level of Rs 64,000 for buying and Rs 65,000 for selling of 100 pieces. PTI