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Gold fell on profit—taking after a brief overnight recovery at the domestic bullion market here today on subdued demand from stockists and traders as well as weak local buying interest amid bearish global cues.
Silver also dropped owing to speculative selling and reduced industrial off—take.
Standard gold (99.5 purity) dropped by Rs 185 to close at Rs 26,630 per 10 grams from Tuesday’s level of Rs 26,815.
Pure gold (99.9 purity) also moved down by a similar margin to end at Rs 26,780 per 10 grams from Rs 26,965.
Silver (.999 fineness) dipped by Rs 290 to finish at Rs 39,980 per kg as against Rs 40,270 yesterday.
On the global front, the yellow metal was down in early trade as the dollar’s rally took a pause and global political tensions intensified, but investors remained cautious ahead of US economic data later in the week.
Spot gold was down to $1,221.40 an ounce and silver also moved down to $17.67 an ounce in early European trade.
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