Gold extends losses

Updated - March 24, 2016 09:08 pm IST

Published - October 24, 2015 11:22 pm IST - NEW DELHI:

Tracking a weak overseas trend and slackened demand from jewellers, gold continued its losing streak for the second straight day and plunged by Rs.110 to Rs.27,090 per 10 grams in the national capital on Saturday.

Silver also eased by Rs.235 to Rs. 37,050 per kg on lack of buying support from industrial units and coin makers.

Traders said apart from weakening trend in global market, fall in demand from jewellers mainly kept pressure on precious metal prices.

Globally, gold fell 0.3 per cent to $1,162.80 an ounce in New York on Friday. In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs.110 each to Rs.27,090 and Rs. 26,940 per 10 grams, respectively. It had lost Rs. 135 on Friday. Sovereign, however, remained flat at Rs. 22,400 per piece of eight grams in limited deals.

Silver eases Following gold, silver ready declined by Rs. 235 to Rs.37,050 per kg and weekly-based delivery fell by Rs.220 to Rs.36,940 per kg.

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