Gold continued its weak streak for the third straight day with prices falling by another Rs. 80 to Rs. 20,690 per 10 gram in the national capital on Friday on increased selling by stockists largely in tandem with a weak trend in global market.
On the other side, silver recovered on emergence of buying at prevailing levels.
Trading sentiment in gold remained bearish as the precious metal fell by USD 9.90 to a two-week low of USD 1,369.50 an ounce in New York last night on investors sales after recent gains amid sluggish local demand at existing higher levels, traders said.
On the domestic front, the gold of 99.9 and 99.5 per cent purity lost another Rs. 80 to Rs. 20,690 and Rs. 20,570 per 10 grams, respectively. The metal had lost Rs. 125 in the previous two trading sessions.
Sovereign also lacked necessary buying support and declined by Rs. 50 to Rs.16,750 per piece of eight gram.
On the other hand, silver ready found some low level buying from industrial units and recovered by Rs. 50 to Rs. 44,800 per kg and weekly-based delivery by Rs. 95 to Rs. 44,320 per kg.
Silver coins also gained Rs. 100 to Rs. 49,000 for buying and Rs. 49,100 for selling of 100 pieces on account of marriage season demand.
Keywords: Gold prices