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Gold prices retreated from its three—week highs on the bullion market today following fresh bouts of selling by stockists and investors’ amid lacklustre buying sentiment.
Elsewhere, silver also declined on the back of reduced industrial demand.
Standard gold (99.5 purity) fell by Rs 170 to conclude at Rs 26,520 per 10 grams from Thursday’s closing level of Rs 26,690.
Pure gold (99.9 purity) also shed by a similar margin to end at Rs 26,670 per 10 grams from Rs 26,840 previously.
Silver (.999 fineness) dropped by Rs 235 to finish at Rs 38,775 per kg as compared to Rs 39,010 yesterday.
Meanwhile, the shiny—metal slipped below the significant $1,200—mark in worldwide trade, snapping seven—day rallying momentum on fresh bouts of profit taking amid caution ahead of US gross domestic product (GDP) data release and Federal Reserve commentary later in the day.
Spot gold was trading substantially weak at $1,199.80 an ounce and spot silver at $17.10 an ounce in early European trade.
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