Gold tumbled by ₹ 200 to ₹ 30,050 per ten gram at the bullion market on muted demand from local jewellers and a weak trend overseas.
Silver too slumped by ₹ 500 to ₹ 38,500 per kg due to reduced offtake by industrial units and coin makers.
Traders said besides fall in demand from local jewellers and retailers at the spot market, a weak trend overseas mainly weighed on gold prices.
Globally, gold fell 0.76 % to $ 1,265.90 an ounce and silver by 1.41 % to $ 16.06 an ounce in New York in yesterday’s trade.
In the national capital, gold of 99.9 % and 99.5 % purity went down by Rs 200 each to Rs 30,050 and Rs 29,900 per ten gram, respectively. It had gained ₹ 50 in yesterday’s trade.
Sovereign also traded lower by ₹100 to ₹ 24,500 per piece of eight gram.
Tracking gold, silver ready dropped by ₹500 to ₹38,500 per kg, while weekly-based delivery traded higher by ₹₹265 to ₹ 37,775 per kg on speculative buying.
Silver coins too plunged by ₹ 1,000 to ₹ 72,000 for buying and ₹ 73,000 for selling of 100 pieces.
