Gold prices fell for the second straight day in the bullion market today, losing Rs 150 to Rs 19,025 per ten grams on sustained selling by stockists in tandem with the weakening global trend.
Silver also fell by Rs 200 to Rs 29,400 per kg on reduced offtake by industrial units and other consuming industries such as coins makers. The trading sentiment remained bearish as improving economies in Asia curbed the yellow metal’s appeal as a haven.
Gold in overseas markets, which normally sets the price trend on the domestic front, fell by $6.10 dollar to $1,227.40 an ounce.
Selling of old scrap gold by retail customers at existing higher levels and a fall in demand also influenced the trading sentiment, traders said.
Standard gold of 99.9 purity fell further by Rs 150 to Rs 19,025 per ten grams. The metal had lost Rs 45 yesterday. Gold of 99.5 purity fell by the same margin to Rs 18,925 per ten grams.
Sovereign dropped by Rs 50 to Rs 14,650 per piece of eight grams on reduced offtake. In line with the general weakening trend, silver ready fell by Rs 200 to Rs 29,400 per kg and weekly-based delivery by Rs 230 to Rs 29,075 per kg.
Silver coins, too, lost Rs 100 to Rs 34,400 for buying and Rs 34,500 for selling of 100 pieces.
