Zee Media Bureau
New Delhi: As against its last weekend's closing level, gold ended this week on lower note at Delhi bullion market amid a weak trend overseas and fall in demand from jewellers and retailers.
In the national capital, gold of 99.9 and 99.5 percent purity resumed the week on a subdued note and fell further to Rs 26,575 and Rs 26,425 per 10 grams on slackened demand and a weak trend overseas.
However, the yellow metal found some buying support from jewellers towards the middle of week and recovered partially to finish at Rs 27,010 and Rs 26,860 per 10 grams, respectively, showing a loss of Rs 90 and Rs 40.
The bullion market remained closed on Thursday on account of "Mahavir Jayanti".
Traders said besides fall in demand from jewellers and retailers, a weak global trend as US jobless claims dropped to a nine-week low boosting speculation that the Federal Reserve will increase interest rates sooner-than-anticipated, mainly dampened the sentiments here.
International
Gold on the global front, which normally sets price trend on the domestic front, witnessed intense volatility during curtailed week.
Gold for June contract gained further to settle at USD 1,200.90 an ounce on the Comex division of the NYMEX against Tuesday's level of USD 1,183.20, while April contract ended lower on Monday at USD 1,184.80 from last Friday's level of USD 1,199.80.
Mumbai
Standard gold (99.5 purity) resumed lower at Rs 26,425 and drifted further to Rs 26,220 before concluding at Rs 26,630 as compared with last weekend's close of Rs 26,565, showing a gain of Rs 65, or 0.24 percent, per 10 grams.
Pure gold (99.9 purity) also commenced lower at Rs 26,575 and fell further to Rs 26,370 before finishing at Rs 26,780 as against previous closing level of Rs 26,715, revealing a rise of Rs 65, or 0.24 percent, per 10 grams.
