Gold prices fell by another ₹ 100 to ₹ 30,600 per 10 grams at the bullion market largely in tandem with a weak global trend amid muted demand from local jewellers.
Silver also cracked below the ₹ 41,000-mark by falling ₹ 700 to ₹ 40,500 per kg on reduced offtake by industrial units and coin makers.
Traders said a weak trend overseas, as market’s focus turned to a two-day US Federal Reserve meeting that kicks off later in the day, kept pressure on the precious metal here.
Besides, the dollar’s strength against a basket of major currencies overseas weighed on gold prices, they added.
Globally, gold fell 0.03 % to $ 1,306.70 an ounce and silver by 0.35 % to $ 17.11 an ounce in Singapore.
In addition, fading demand from local jewellers and retailers at domestic spot market also dampened sentiments.
In the national capital, gold of 99.9 % and 99.5 % purity fell further by Rs 100 each to Rs 30,600 and Rs 30,450 per 10 grams, respectively. The precious metal had lost ₹ 300 in the previous three sessions.
Sovereign, however, remained unaltered at ₹24,700 per piece of eight grams.
Tracking gold, silver ready dropped by ₹ 700 to ₹40,500 per kg, while weekly—based delivery by ₹ 770 to ₹ 39,790 per kg.
Silver coins, however, remained unaltered at Rs 74,000 for buying and ₹75,000 for selling of 100 pieces.
