Gold prices extended losses on consistent selling by stockists and speculators amidst lack of local buying interest in view of weak global cues.
Silver also dipped owing to hectic speculative selling coupled with poor industrial support.
Standard gold (99.5 purity) dropped by Rs 139 to Rs 30,031 per 10 grams from Rs 30,170 yesterday.
Pure gold (99.9 purity) also slipped by Rs 149 to Rs 30,201 per 10 grams as compared to Rs 30,350 previously, according to Riddisiddhi Bullions Ltd.
Silver (.999 fineness) slumped by Rs 504 to Rs 46,056 per kg from overnight level of Rs 46,560.
Globally, gold fell for a third session today in the early trade, with the dollar and European shares steadying as the market focus cautiously shifted from political tensions in Ukraine to a policy decision by the Federal Reserve later in the day.
In London, Spot gold fell to $1,346.10 an ounce morning trade, and silver was also down at $21.72 an ounce.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.