Divergent trend was witnessed on the bullion market on Tuesday as gold fell further by Rs. 280 to Rs. 30,400 per ten grams on sustained selling, while silver surged by Rs. 1,080 to Rs. 45,080 per kg on increased offtake by industrial units.
Traders said sustained selling by stockists against sluggish demand mainly kept pressure on gold prices while increased offtake by industrial units and coin makers led an upsurge in silver prices.
In the national capital, gold of 99.9 and 99.5 per cent fell further by Rs. 280 each to Rs. 30,400 and Rs. 30,200 per ten grams, respectively. It had lost Rs. 250 on Monday. Sovereign also shed Rs. 50 to Rs. 25,150 per piece of eight gram.
On the other hand, silver ready spurted by Rs. 1,080 to Rs. 45,080 per kg and weekly-based delivery by Rs. 1,140 to 45,580 per kg. The white metal had lost Rs. 400 in last trade.
Silver coins shot up by Rs. 1,000 to Rs. 86,000 for buying and Rs. 87,000 for selling of 100 pieces.