Gold remained weak for a second day as prices fell by Rupees 70 to Rupees 31,450 per ten grams at the bullion market today, amid easing demand from jewelers at the domestic spot market and a weak trend overseas.
Silver also fell for a third straight day by losing Rupees 300 to Rupees 46,050 per kg due to reduced offtake by industrial units and coin makers.
Besides a weak trend overseas, fall in demand from jewelers at the domestic spot market mainly kept the pressure on the precious metal prices, traders said.
Globally, gold fell 0.21 percent to $1,334.70 an ounce in Singapore today.
In the national capital, gold of 99.9 and 99.5 per cent purity fell by Rupees 70 each to Rupees 31,450 and Rupees 31,300 per ten grams, respectively. It had lost Rupees 80 yesterday.
Sovereign, however, remained unaltered at Rupees 24,500 per piece of eight grams in scattered deals.
Following gold, silver ready dropped by Rupees 300 to Rupees 46,050 per kg and weekly-based delivery by Rupees 280 to Rupees 46,340.
Silver coins, however, continued to be traded at previous levels of Rupees 77,000 for buying and Rupees 78,000 for selling of 100 pieces.
Silver also fell for a third straight day by losing Rupees 300 to Rupees 46,050 per kg due to reduced offtake by industrial units and coin makers.
Besides a weak trend overseas, fall in demand from jewelers at the domestic spot market mainly kept the pressure on the precious metal prices, traders said.
Globally, gold fell 0.21 percent to $1,334.70 an ounce in Singapore today.
In the national capital, gold of 99.9 and 99.5 per cent purity fell by Rupees 70 each to Rupees 31,450 and Rupees 31,300 per ten grams, respectively. It had lost Rupees 80 yesterday.
Sovereign, however, remained unaltered at Rupees 24,500 per piece of eight grams in scattered deals.
Following gold, silver ready dropped by Rupees 300 to Rupees 46,050 per kg and weekly-based delivery by Rupees 280 to Rupees 46,340.
Silver coins, however, continued to be traded at previous levels of Rupees 77,000 for buying and Rupees 78,000 for selling of 100 pieces.
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