Snapping two days of gains, gold prices on Wednesday fell by Rs. 75 to Rs. 20,820 per ten grams in line with weak trends in Asia.
After hovering around at its all-time record level of Rs. 45,500 a kg on Tuesday, silver prices too dropped by Rs. 600 to Rs. 44,800 per kg.
Traders said gold prices declined after the sentiment turned bearish in Asia. Gold lost 0.2 per cent to 1,393.35 dollar an ounce in Singapore. They said signs of U.S. economic recovery boosted the dollar and reduced the metal’s appeal.
On the domestic front, gold of 99.9 per cent and 99.5 per cent purity declined by Rs. 75 each to Rs. 20,820 and Rs. 20,700 per ten grams respectively.
The metal had gained Rs. 190 in the previous two trading sessions.
Sovereign remained stable at Rs. 16,800 per piece of eight gram in restricted buying.
Silver ready dropped by Rs. 600 to Rs. 44,800 per kg and weekly-based delivery by Rs. 630 to Rs. 44,340 per kg on poor offtake at existing higher levels.
Silver coins also fell by Rs. 300 to Rs. 49,000 for buying and Rs. 49,100 for selling of 100 pieces.
