Gold fell by Rs 40 to Rs 18,900 per 10 grams in the national Capital Wednesday on sustained selling by stockists at existing higher levels.

However, silver recovered by Rs 150 to Rs 29,700 per kg on increased offtake from industrial units and coin-makers.

Marketmen said continued selling by stockists at existing higher levels led to the fall in gold prices.

Some retail customers, who grabbed the opportunity to sell scrap jewellery at the present attractive levels, also pulled down the prices, they said.

Standard gold of 99.9 purity, which had lost Rs 85 in the previous session, declined further by Rs 40 to Rs 18,900 per 10 grams, while gold of 99.5 purity dipped by the same margin to Rs 18,800 per 10 grams.

However, sovereigns remained flat at Rs 14,650 per piece of eight grams on lack of buying interest.

On the other hand, silver ready found buying support from industrial users and coins makers and recorded fresh gains.

Silver rose by Rs 150 to Rs 29,700 per kg, and weekly-based delivery by Rs 175 to Rs 29,385 per kg. Its coins also gained Rs 100 to touch Rs 34,500 for buying and Rs 34,600 for selling of 100 pieces.

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