960416

Indian gold

silver suffers

setback as

demand falls

BOMBAY: Gold and silver suffered a setback at the improved level during the early trading session on the bullion market as fresh seasonal demand petered out at the higher level, dealers said on Tuesday.

On Monday gold was up by 47 rupees per 10 grammes and silver was up by 36 rupees per kg.

"Reports of a weak trend in the world market triggered light profit-taking by stockists at the higher level," they said.

Supplies however remained restricted owing to suspension of sales of gold and silver by the custom department.

Meanwhile prices of gold biscuits (116.50 gramme) slid by 50 rupees at 60,800 rupees each. They were up by 550 rupees each on Monday.