Gold, silver continue to decline for 5th day

Mumbai:- Both the precious metals, gold and silver, continued to decline for the 5th trading day at the bullion market here today due to persistent offerings from stockists on the back of fall in global markets.

Standard gold (99.5 purity) fell by Rs 130 to finish at Rs 28,780 per 10 grams from yesterday’s closing level of Rs 28,910.

Pure gold (99.9 purity) also moved down by a similar margin to settle at Rs 28,930 per 10 grams as compared to Rs 29,060.

Silver (.999 fineness) fell by Rs 485 to finish at Rs 39,255 per kg as against Rs 39,740.

In overseas market, gold prices ended lower yesterday, stretching their streak of declines to a fourth session as this week’s focus now turns squarely on the Federal Reserve.

The August gold contract fell by USD 2.50 to USD 1,268.90 an ounce.

The July silver contract fell to USD 16.944 an ounce.

PTI