Gold prices fell by another Rs. 130 in the national capital on Friday on sustained selling by stockists, triggered by a weak global trend.
Gold of 99.9 per cent and 99.5 per cent purity fell by Rs. 130 each to Rs. 19,240 and Rs. 19,140 per ten grams, respectively. The precious metal had lost Rs. 100 in the previous trading session.
Dealers said that selling pressure gathered momentum after prices of the precious metal fell in global markets amid a rise in U.S. equities, eroding demand for the precious metal as an investment haven.
They said a lack of demand from retail customers for buying gold at existing higher levels also brought down prices.
Gold in overseas markets, which normally sets the price trend on the domestic front, fell by $11.20 to $1,244.00 an ounce.
Sovereigns continued to be traded at the previous level of Rs. 15,000 per piece of eight grams in restricted buying at prevailing levels.
On the other hand, silver ready and weekly-based delivery held steady at Rs. 31,650 and Rs. 31,375 per kg, respectively, on lack of buying support from industrial units and coin-makers.
Silver coins prices also remained stable at Rs. 35,000 for buying and Rs. 35,100 for selling of 100 pieces.
