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Gold fell further due to subdued demand from stockists and retailers on the back of lower global cues today.
Silver also slipped on consistent speculative selling following a poor industrial demand.
Standard gold (99.5 purity) declined by Rs 307 to quote at Rs 29,185 per 10 grams from Rs 29,492 last Saturday.
Pure gold (99.9 purity) also dropped by Rs 308 to Rs 29,354 per 10 grams from Rs 29,662 previously, according to Riddisiddhi Bullions Ltd.
Silver (.999 fineness) dipped by Rs 268 to Rs 44,100 per kg from the last weekend’s level of Rs 44,368.
Globally, gold fell one percent in the early trade as expectations that US interest rates could rise in early 2015 supported the dollar and prompted investors to cash in on gains made during gold’s recent rally to six—month highs.
In London, spot gold was down to $1,322.14 an ounce in the morning trade and silver was down at $20.11 an ounce.
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