Continuing loses for the third straight session, gold prices plunged by Rs 205 per ten grams at the bullion market today, tracking a weak trend overseas and low demand from jewellers.
Silver too remained under pressure and declined by Rs 525 to end below Rs 42,000-mark at Rs 41,775 per kg due to reduced offtake by industrial units.
Standard gold (99.5 purity) slumped by Rs 205 to end at Rs 28,640 per 10 grams from its Wednesday's close of Rs 28,845.
Pure gold (99.9 purity) also shed by a similar margin to finish at Rs 28,790 per 10 grams as against Rs 28,995.
Silver (.999 fineness) declined by Rs 525 per kg to close at Rs 41,775 from its yesterday's level of Rs 42,300.
Globally, gold prices inched down to the lowest level in five weeks, pressured by an uptick in the dollar ahead of US non-farm payrolls data on Friday.
Spot gold was down by 0.1 per cent at USD 1,206.46 per ounce at early trade. Earlier in the session, it hit USD 1,203.25, the lowest since February 1.
In other precious metals, silver slid as much as 0.4 per cent to USD 17.17 per ounce. Earlier in the session, the metal hit USD 17.10, the lowest since Jan 31.
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