Gold prices slipped from a three-week high by losing Rs. 315 to Rs. 30,885 per ten grams in the national capital today on profit-selling at prevailing higher levels.

Silver also declined by Rs. 100 to Rs. 49,580 per kg on reduced off-take by industrial units.

Traders said profit-selling by stockists at prevailing higher levels amid sluggish demand due to ongoing “Shradhs” mainly led to the fall in precious metals.

On the domestic front, gold of 99.5 per cent purity plunged to Rs. 30,685 per ten grams. It had climbed to a three-week high of Rs. 31,200 in the previous session.

Sovereign also lacked necessary follow up support and declined by Rs. 100 to Rs. 25,000 per piece of eight grams.

In line with a general weak trend, weekly-based delivery of silver dropped by Rs. 20 to Rs. 49,580 per kg. The white metal had surged by Rs. 1,225 in the previous session.

However, silver coins held steady at Rs. 86,000 for buying and Rs. 87,000 for selling of 100 pieces.

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