Gold prices extended losses for the fourth straight day by losing Rs. 325 to Rs. 31,100 per ten grams on Monday on stockists selling.
However, silver snapped three day of losses and rebounded by Rs. 420 to Rs. 54,350 per kg on increased off-take by industrial units and coin makers at existing lower levels and a firming trend in international markets, where it rose 3.7 per cent to $ 24.38 an ounce.
Traders said gold fell on sustained stockists selling at current levels amid a weakening trend in global markets, which pulled down gold prices.
Gold prices in Singapore, which normally set price trend at the domestic front, lost 1.6 per cent to $ 1,373.38 an ounce on bets the U.S. Federal Reserve will start to pare stimulus as the economy improves.
Rising equity markets, which lure investor to park their funds for quick gains, too reduced gold prices, they said.
On the domestic front, gold lost Rs. 2,475 in the previous three sessions. Sovereign followed suit and declined by Rs. 200 to Rs. 25,100 per piece of eight grams.
On the other hand, weekly based delivery of silver gained Rs. 2,420 to Rs. 55,850 per kg. The white metal lost Rs. 4,570 in the last three trades.
Silver coins also spurted by Rs. 1,000 to Rs. 89,000 for buying and Rs. 90,000 for selling of 100 pieces.
