New Delhi, Mar 18 (PTI) Gold prices lost Rs 20 to close at Rs 16,910 per ten grams in the bullion market here today on reduced offtake amid a weakening global trend.
Standard gold and ornaments declined by Rs 20 each to Rs 16,910 and Rs 16,760 per ten grams, respectively. The metal had gained Rs 190 in the last trading session. However, sovereign remained at its last closing rate of Rs 14,025 per eight-gram piece on restricted buying.
Marketmen said a fall in seasonal demand amid a weakening global trend led both gold and silver prices to decline.
Global markets, which normally set the price trend on the domestic front here, saw gold losing 0.1 per cent to USD 1,119.50 an ounce in London.
A fall in demand at existing levels also put pressure on the metals' prices, they added.
