Gold prices fell further by ₹75 to₹30,450 per 10 grams at the bullion market today in tandem with a weakening global trend amid sluggish demand from local jewellers.
Silver also dropped by ₹ 200 to Rs 40,300 per kg due to reduced offtake by industrial units and coin makers.
Traders said besides weak trend overseas, fading demand from local jewellers and retailers at prevailing levels at the domestic spot markets mainly kept pressure on gold prices.
Globally, gold fell 0.21 % to $ 1,287.90 an ounce and silver by 0.35 % to $ 17.01 an ounce in New York in yesterday’s trade.
In the national capital, gold of 99.9 and 99.5 % purity declined by ₹75 each to ₹ 30,450 and ₹30,300 per 10 grams, respectively. It had shed ₹ 25 on Friday.
Sovereign, however, remained unaltered at Rs 24,700 per piece of eight grams.
Silver ready traded lower by Rs 200 to Rs 40,300 per kg, while weekly-based delivery declined by ₹ 270 to ₹39,240 per kg.
Silver coin, however, traded at previous level of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.
