Gold and silver prices continued to decline at the bullion market here today on lack of demand from stockists amidst fall in the global market.
Standard gold (99.5 purity) fell by 135 per 10 grams to close at Rs 30,860 from the Monday’s closing level of Rs 30,995.
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Pure gold (99.9 purity) also fell by a similar margin to end at Rs 31,010 per 10 grams from Rs 31,145 yesterday.
Silver (.999 fineness) tumbled by Rs 875 per kg to close at Rs 44,990 from Rs 45,865.
Gold futures headed toward their fifth loss in six sessions today in the global market as the dollar continued to flex its muscle against leading rivals, the pound in particular, cutting demand for gold priced in the US currency.
December gold dropped to USD 1,311.40 an ounce.
Silver prices fell as well, with the contract for December delivery sliding to USD 18.82 an ounce.