NEW DELHI: Gold prices fell by another Rs 130 in the national capital today on sustained selling by stockists, triggered by a weak global trend.
Gold of 99.9 per cent and 99.5 per cent purity fell by Rs 130 each to Rs 19,240 and Rs 19,140 per ten grams, respectively. The precious metal had lost Rs 100 in the previous trading session.
Dealers said that selling pressure gathered momentum after prices of the precious metal fell in global markets amid a rise in US equities, eroding demand for the precious metal as an investment haven.
They said a lack of demand from retail customers for buying gold at existing higher levels also brought down prices.
Gold in overseas markets, which normally sets the price trend on the domestic front, fell by USD 11.20 to USD 1,244.00 an ounce.
Sovereigns continued to be traded at the previous level of Rs 15,000 per piece of eight grams in restricted buying at prevailing levels.
On the other hand, silver ready and weekly-based delivery held steady at Rs 31,650 and Rs 31,375 per kg, respectively, on lack of buying support from industrial units and coin- makers.
Silver coins prices also remained stable at Rs 35,000 for buying and Rs 35,100 for selling of 100 pieces.
Economic Times
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