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Our Bureau

Mumbai , June 14

Precious metals fell sharply on the local bullion market on Wednesday on increased offerings, stray buying and weak overseas market.

Standard gold prices were down Rs 365 at Rs 8,470 per 10 gm from Rs 8,835 per 10 gm. Pure gold (99.99 fineness) was down Rs 370 to close at Rs 8,515 per 10 gm from Rs 8,885. Silver (.999 fineness) price was down Rs 820 to close at Rs 15,315 from Rs 16,135 a kg.

Chennai: Bar silver: Rs 15,555; retail silver (per gm): Rs 16.65; Standard gold: Rs 8,575; retail ornament gold (22 carat per gm): Rs 794.

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