Gold prices continued to decline on the bullion market on Friday on the back of international trend shaped by the war in Iraq. Gold which opened steady following bullion merchants adopting a cautious approach, suddenly experienced revival of selling with the hope that the war would be limited, and lost further by Rs 40 at Rs 5,340 per ten gram. Silver also registered a further fall in its prices where its prices remained frozen at $4.43 dollar an ounce. Standard gold and ornaments lost another Rs 40 each at Rs 5,340 and Rs 5,290 per ten gram respectively. Sovereign was unchanged at Rs 4,400 per piece of eight gram. Silver ready lost Rs 35 at Rs 7,510 per kilo.
