Both the precious metals, gold and silver fell in the bullion market on Thursday, where gold tumbled by Rs. 40 to Rs. 20,630 per 10 grams and silver by Rs. 410 to Rs. 44,390 per kg, respectively on reduced offtake at prevailing higher levels, amid weak global trends.
Gold in the global markets, which normally sets the price trend on the domestic front, fell by 0.48 per cent to $1363.90 an ounce and silver by 1.39 per cent to $28.37.
On the domestic front, silver ready plunged by Rs. 410 to Rs. 44,390 per kg and weekly-based delivery by Rs. 545 to Rs. 44,105 per kg. Silver coins followed suit and lost Rs. 200 to Rs. 50,400 for buying and Rs. 50,500 for selling of 100 pieces.
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In line with the general weakening trend, gold of 99.9 and 99.5 per cent purity fell by Rs. 40 each to Rs. 20,630 and Rs. 20,510 per 10 grams, respectively. Sovereigns remained stable at Rs. 16,900 per piece of eight grams in limited deals.