In a mixed pattern of trading, gold prices declined by Rs. 45 to Rs. 27,265 per ten gram at the bullion market on Monday owing to slackened demand from jewellers at prevailing levels even as metal rise in global markets.
Silver, however, found fresh buying support from industrial users and recovered by Rs. 760 to Rs. 36,900 per kg.
Bullion traders said easing demand from jewellers and retailers at current level mainly attributed the fall in gold prices.
ADVERTISEMENT
They said, however, a better trend overseas as the dollar fell from a five-year high amid signs of rising physical demand, capped the fall.
Gold in Singapore, which normally sets price trend on the domestic front, rose 0.3 per cent to USD 1,199.65 an ounce.
In Delhi, gold of 99.9 and 99.5 per cent purity fell by Rs. 45 each to Rs. 27,265 and Rs. 27,065 per ten gram respectively. It rose by Rs. 85 on Saturday.
ADVERTISEMENT
Sovereign, however, remained steady at Rs. 23,700 per piece of eight gram in restricted deals.
On the other hand, silver ready rebounded by Rs. 760 to Rs. 36,900 per kg but weekly-based delivery shed Rs. 15 to Rs. 36,925 per kg.
Meanwhile, silver coins ruled steady at Rs. 59,000 for buying and Rs. 60,000 for selling of 100 pieces.