Gold sheds to Rs 29,740 per 10 grams, silver rises to Rs 56,250 per kg

NEW DELHI: Gold dropped from records and slipped by Rs 10 to Rs 29,740 per 10 grams due to demand at prevailing higher levels, while silver increased by Rs 350 to Rs 56,250 per kg on speculative buying.

According to the traders, the fall in demand at existing higher levels mainly pulled down gold prices from record highs.

The silver prices were pushed by speculative buying and increased offtake by industrial units and coin makers.

On the domestic front, gold of 99.9 and 99.5 per cent purity plunged by Rs 10 each to Rs 29,740 and Rs 29,600 per 10 grams, respectively.

Silver appreciated by Rs 350 to Rs 56,250 per kg and weekly-based delivery by Rs 200 to Rs 56,600 per kg, while silver coins increased by Rs 1,000 to Rs 66,000 for buying and Rs 67,000 for selling of 100 pieces.