Gold prices fell marginally on Friday to close at Rs 31,520 per 10 gm, snapping the five-day gaining streak, on low demand in the domestic market and weak global cues. Silver prices remained unchanged at Rs 46,800 per kg.
Sovereign gold held steady at Rs 24,500 per 8 gm, while silver coins closed at Rs 77,000 for buying and Rs 78,000 for selling 100 pieces, PTI reported.
Gold prices have gained about 1.5 percent since 17 September when the yellow metal closed at Rs 31,040 per 10 gm. Silver prices have risen 4.05 percent from their 17 September closing of Rs 44,975 per kg.
Meanwhile, the government said that it will now issue gold bonds on 30 September instead of 23 September under the fifth tranche of the sovereign gold bond (SGB) scheme, citing procedural problems.
"Large number of applications have been received by banks and post offices. To enable smooth uploading of applications into RBI's E- Kuber system, particularly by the post offices, it has since been decided to shift the issue date of the Sovereign Gold Bonds from 23rd September,2016 to 30th September, 2016," a finance ministry statement said on Friday.
The fifth tranche of the sovereign gold bond scheme (SGB) that was launched early this month saw 2 lakh applications for buying 2.37 tonnes of gold. The amount collected has been estimated at Rs 820 crore. Buoyed by the response, the government said it planned to come out with many more tranches with "additional" features in the sixth tranche to be issued around Diwali.