New Delhi: Both the precious metals, gold and silver, fell in the national capital on Wednesday on subdued demand at prevailing higher levels amid a weak global trend. While gold fell by Rs115 to Rs26,715 per 10 grams, silver lost Rs400 to Rs40,350 per kg on lack of buying support from jewellers and industrial units. Traders said subdued demand at prevailing higher levels amid a weak global trend as investors await minutes from the Federal Open Market Committee’s meeting last month amid bets the central bank will begin reducing stimulus mainly influenced the sentiment. Gold in Singapore, which normally sets the price trend on the domestic front, lost 0.6% to $1,244.03 an ounce and silver slumped 1.4 % to $19.03 an ounce. On the domestic front, gold of 99.9 and 99.5 % purity fell by Rs115 each to Rs26,715 and Rs26,515 per 10 grams, respectively. It had climbed Rs280 on Tuesday. Sovereigns followed suit and declined by Rs100 to Rs24,000 per piece of eight grams. In a similar fashion, silver ready declined by Rs400 to Rs40,350 per kg and weekly-based delivery by Rs300 to Rs40,300 per kg, respectively. The white metal had gained Rs610 in the previous session. Silver coins also plunged by Rs1000 to Rs78,000 for buying and Rs79,000 for selling of 100 pieces on poor demand at existing higher levels.

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