Gold prices turn soft, tumble Rs 75 to Rs 30,450

Gold felt the heat of soaring equities as the prices came down by Rs 75 to Rs 30,450 per 10 grams today, dampened by tepid demand from local jewellers.
Globally, however, the trend was positive.
Silver prices eased Rs 100 to Rs 40,550 per kg, dragged down by industrial units and coin makers.
Demand softness at the end of local jewellers and retailers, according to traders, pushed gold prices down, but a firm trend overseas arrested the slide.
Overseas, gold firmed up 0.27 per cent to USD 1,281.70 an ounce and silver by 0.03 per cent to USD 17.06 an ounce in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity went down by Rs 75 each to Rs 30,450 and Rs 30,300, respectively, per 10 grams. It had lost Rs 100 yesterday.

Sovereign, however, remained unchanged at Rs 24,700 per piece of eight grams in restricted deals.
Silver ready too declined by Rs 100 to Rs 40,550 per kg and weekly-based delivery by Rs 60 to Rs 39,590.
Prices of silver coins, however, stayed flat at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.