Gold prices retreated by Rs. 50 to Rs. 25,950 at the bullion market on Monday, snapping its two-day rising run largely in step with a weak trend overseas amid easing demand from jewellers at prevailing levels.
However, silver strengthened by Rs. 50 to regain the psychological level of Rs. 35,000 per kg on increased offtake by industrial units and coin makers.
Bullion traders said besides weak global trend, fall in demand from jewellers and retailers at existing levels mainly kept pressure on gold prices here.
Globally, gold fell 0.3 per cent to USD 1,082.83 an ounce in Singapore.
In the national capital, gold of 99.9 and 99.5 per cent purity shed Rs. 50 each to Rs. 25,950 and Rs. 25,800 per ten gram, respectively. It had gained Rs. 650 in the previous two sessions.
Sovereign, lost Rs. 100 at Rs. 22,200 per piece of eight grams.
On the other hand, silver ready rose further by Rs. 50 to Rs. 35,000 per kg and weekly-based delivery by Rs. 25 to Rs. 35,185 per kg.
Meanwhile, silver coins continued to be traded at previous level of Rs. 48,000 for buying and Rs. 49,000 for selling of 100 pieces.
