Gold declined by Rs. 50 to Rs. 21,220 per 10 grams today on reduced offtake at existing high levels, despite firm global cues. Silver, however, surged Rs. 50 to Rs. 54,250 per kg on demand from industrial units.
Market analysts said reduced offtake at existing high levels and end of marriage season mainly kept gold prices at lower levels.
Investors shifting funds to a strengthening stock market also effected trading sentiments for the yellow metal, they added.
In global markets, while gold rose by 0.3 per cent to $ 1,431.48 an ounce, silver fell by 0.2 per cent to $ 36.04 an ounce.
On the domestic front, gold of 99.9 and 99.5 per cent purity declined by Rs. 50 each to Rs. 21,220 and Rs. 21,100 per 10 grams, respectively. However, sovereigns continued to be enquired around previous level of Rs. 17,500 per piece of eight grams.
On the other hand, silver ready remained in demand and added another Rs. 50 to Rs. 54,250 per kg. Silver weekly-based delivery gained Rs. 45 to Rs. 53.895 per kg.
Silver coins held steady at Rs. 58,900 for buying and Rs. 59,400 for selling of 100 pieces.
