Gold prices fell further at the domestic bullion market here on reduced off-take from stockist and retailers amid subdued local buying interest.
Silver slipped following speculative selling amid lower industrial demand. Standard gold (99.5 purity) dropped by Rs. 155 to close at Rs. 26,700 per 10 grams from Friday’s level of Rs. 26,855.
Pure gold (99.9 purity) also dipped by a similar margin of Rs. 155 to finish at Rs. 26,850 per 10 grams as against Rs. 27,005 previously.
Silver (.999 fineness) fell by Rs. 120 per kg to end at Rs. 37,510 as compared to Rs. 37,630 last Friday.
Uncertainty
Globally, gold inched up in early trade after a three-day losing streak, as the dollar’s ascent paused and uncertainty persisted over the timing of the first Federal Reserve rate increase in a decade.
In London, spot gold was quoting up at $1,167.17 an ounce in early trade. The metal had dropped to $1,158.77 last Friday, its lowest since Oct.13, when the dollar soared to its highest level in more than two months.
Spot silver also followed gold’s upside, rising at $15.87 an ounce.
