Gold prices declined by ₹150 to ₹32,030 per 10 grams on Wednesday, registering a dip for the second consecutive day, reflecting sluggish global trend and considerable fall in domestic demand.
Silver followed suit and went down further by ₹220 to ₹39,480 per kg on reduced offtake by industrial units and coin makers.
Traders said, sentiment was downbeat, largely owing to a weak global trend as the dollar surged overseas eroding the yellow metals’ appeal as a safe-haven asset.
Moreover, fall in demand from local jewellers and retailers at the domestic spot markets also dragged the precious metal.
Globally, gold fell 0.15% to USD 1,223.70 an ounce and silver by 0.14% to USD to 14.71 an ounce in Singapore.
In the national capital, gold of 99.9% and 99.5% purity plunged by ₹150 and ₹140 to ₹32,030 and ₹31,880 per ten grams, respectively.
Sovereign gold, however, continued at ₹24,700 per piece of eight gram in limited deals.
In sync with gold, silver ready too dropped further by ₹220 to ₹39,480 per kg and weekly-based delivery by ₹240 to ₹38,860 per kg.
Silver coins, however, maintained a steady trend at ₹75,000 for buying and ₹76,000 for selling of 100 pieces.
