New Delhi: Both the precious metals, gold and silver, fell in the national capital on Thursday on reduced offtake by stockists and jewellers amid a weak global trend.
While gold fell by Rs75 to Rs27,025 per 10 grams, silver lost Rs615 at Rs40,435 per kg on reduced offtake by industrial units and coin makers.
Traders said besides reduced offtake by stockists and jewellers in view of off-marriage season, weak trend in global markets mainly led to the fall in gold and silver prices.
Gold in New York, which normally sets the price trend on the domestic front, fell by $15.90 to $1,274.50 an ounce and silver by 3.62% to $19.29 an ounce.
In addition, shifting of funds from weakening bullion to rising equity markets for quick gains, also dampened the sentiment they said.
On the domestic front, gold of 99.9 and 99.5% purity fell by Rs75 each to Rs27,025 and Rs26,825 per 10 grams, respectively. It had gained Rs50 on Wednesday. Sovereigns, however, found selective buying and rose by Rs50 to Rs24,200 per piece of eight grams.
In a similar fashion, silver ready dropped by Rs615 to Rs40,435 per kg and weekly-based delivery by Rs815 to Rs40,235 per kg, respectively.
The white metal had shed Rs50 in the previous session.
On the other hand, silver coins held steady at Rs79,000 for buying and Rs80,000 for selling of 100 pieces.
