Gold, silver continue to slide

January 07, 2011 07:52 pm | Updated 07:52 pm IST - New Delhi

The bullion market continued its downward streak on Friday as gold and silver fell for the third and fourth straight session, respectively, due to weak demand on increased selling by stockists.

While gold fell by Rs 100 to Rs 20,560 per 10 grams in continuation to a loss of Rs 340 in the last two sessions, silver lost Rs 600 to Rs 44,700 per kg, after dropping Rs 1,630 in last three days.

Gold in global markets, which normally sets a price trend on the domestic front, fell by 0.3 per cent to USD 1,367.53 an ounce and silver by 0.7 per cent to USD 28.87 an ounce.

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