Snapping its two-day rising run, gold prices drifted by Rs. 85 to Rs. 25,605 per ten grammes at the bullion market on Monday on weak global trend amid slackened demand from jewellers at prevailing levels.
Silver also dipped below the Rs. 34,000-mark by falling Rs. 320 to Rs. 33,980 per kg on reduced offtake by industrial units and coin-makers.
Bullion traders said besides weak Asian cues, fall in demand from jewellers mainly pulled down gold and silver prices.
At global level
Globally, gold lost 0.4 per cent to $1,071.72 an ounce and silver fell 0.7 per cent to $14.26 an ounce in Singapore.
Besides, strengthening rupee against the dollar that made import of precious metals cheaper dampened sentiment, they said.
In the national capital, gold of 99.9 and 99.5 per cent purity declined by Rs. 85 each to Rs. 25,605 and Rs. 25,455 per ten grams, respectively. It had gained Rs. 140 in the previous two days.
Sovereign steady
Sovereign, however, remained steady at Rs. 22,200 per piece of eight grams in scattered deals.
Tracking gold, silver ready dropped by Rs. 320 to Rs. 33,980 per kg and weekly-based delivery by Rs. 295 to Rs. 34,050 per kg.
Silver coins, however, continued to trade at previous level of Rs. 48,000 for buying and Rs. 49,000 for selling of 100 pieces.
