Silver and gold prices fell for the second straight session today on sustained selling by stockists, amid a weakening global trend. While silver fell further by Rs 1,400 to Rs 68,600 per kg, gold lost Rs 25 to Rs 22,195 per 10 grams.
Silver coins followed suit and plunged by Rs 1,500 to Rs 74,500 for buying and Rs 75,500 for selling of 100 pieces.
Traders said continued offloading by stockists on the back of weakening global trend mainly led to the fall in silver and gold prices.
In global global markets, gold declined by 0.01% to $1,506.90 an ounce and silver fell by 0.24% to $45.49 an ounce. Besides, fall in domestic demand at existing high levels also dampened trading sentiments.
On the domestic front, silver ready dropped further by Rs 1,400 to Rs 68,600 per kg and weekly-based delivery by Rs 290 to Rs 67,500 per kg.
In line with a general weakening trend, gold of 99.9 and 99.5% purity declined by Rs 25 each to Rs 22,195 and Rs 22,075 per 10 grams, respectively. However, sovereigns continued to be asked around last level of Rs 18,200 per piece of eight grams.
