Gold, silver fall on stockists selling, global cues

Gold prices declined by Rs 105 to Rs 30,725 per 10 grams in the national capital on Tuesday on stockists selling at prevailing higher levels, triggered by weak global trend.

Silver also lost Rs 750 to Rs 46,450 per kg, snapping five-day upsurge, on reduced offtake by jewellers and industrial units.

Traders said stockists selling against sluggish demand at higher levels mainly led to fall in gold and silver prices.

They said weak global trend where gold fell from six-month high as US economic data beat estimates, backing the case for reduced stimulus before the Fed meeting today, further influenced the sentiment.