Gold prices fell at the domestic bullion market on Wednesday witnessing moderate profit—selling from stockists and traders driven by bearish global cues.
Silver also eased on stray speculative selling amid reduced industrial offtake.
Standard gold (99.5 purity) declined by Rs 100 per 10 grams to end at Rs 31,800 from Tuesday’s closing level of Rs 31,900.
Pure gold (99.9 purity) lost Rs 95 per 10 grams to close at Rs 31,945 from Rs 32,040.
Silver ready (.999 fineness) also went down by Rs 95 per kg to conclude at Rs 62,340 as compared to Rs 62,435 yesterday.
In New York, Gold settled lower on strong dollar amid strong US housing data as well as renewed uncertainty over euro—zone.
Gold for December delivery fell by $10.80 to end at $1,723.60 an ounce on the comex division of the NYMEX late yesterday.
While silver for December contract declined by 26 cents to $32.93 an ounce.