Gold fell today after a two-day surge here today following reduced demand from stockists and investors even as the metal prices rose overseas.
Silver cracked below the Rs 39,000-mark by falling Rs 355 per kg amid reduced offtake by industrial units.
Standard gold (99.5 per cent purity) dropped by Rs 160 to end at Rs 28,975 per 10 grams from last Friday's closing level of Rs 29,135.
Pure gold (99.9 per cent purity) also fell by a similar margin to conclude at Rs 29,125 per 10 grams compared to Rs 29,285 previously.
Silver (.999 fineness) slumped by Rs 355 per kg to close at Rs 38,945 as against Rs 39,300 earlier.
Globally, gold rose as tensions over North Korea fuelled its safe haven demand while doubts over US President Donald Trump's ability to enact pro-business policies pushed US bond yields to near two-month lows. World stocks fell too.
Spot gold was up 0.3 per cent at USD 1,287.31 an ounce in early trade.
In other precious metals, silver went up 0.5 per cent to USD 17.01 an ounce.
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