Snapping its two days of gains, gold prices fell Rs. 150 to Rs. 27,150 per 10 grams in the bullion market today, tracking a weak global trend amid easing demand from jewellers at prevailing levels.
Silver also declined Rs. 160 to Rs. 37,240 per kg on reduced off-take by industrial units and coin makers. Traders said a weak global trend where gold slumped from a three-month high amid a drop in demand from jewellers and retailers at existing levels mainly put pressure on the precious metal prices.
Globally, gold in Singapore, which normally determines domestic price trend, fell 0.6 per cent to $1,176.16 an ounce and silver shed 0.6 per cent to $16.03 an ounce.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity dropped Rs. 150 each to Rs. 27,150 and Rs. 27,000 per 10 grams, respectively. It had gained Rs. 500 in the last two sessions. In line with the overall trend, the sovereign also retreated by Rs. 100 to Rs. 22,400 per piece of eight grams.
Silver ready declined Rs. 160 to Rs. 37,240 per kg and weekly-based delivery by Rs. 200 to Rs. 37,350 per kg. Silver coins too traded lower by Rs. 500 to Rs. 52,000 for buying and Rs. 53,000 for selling of 100 pieces.
