Cuttign short its eight-day rising trend, gold today fell by Rs 80 to Rs 28,890 per ten grams at the bullion market here today due to weak demand from jewellers and fall in its price in global markets.
Silver also declined by Rs 235 per kg on reduced offtake by industrial units.
Standard gold (99.5 purity) declined by Rs 80 per 10 grams to finish at Rs 28,890, from its overnight closing level of Rs 28,970.
Pure gold (99.9 purity) also slipped by a similar margin to end at Rs 29,040 per 10 gram compared to Rs 29,120 previously.
Silver (.999 fineness) fell by Rs 235 to finish at Rs 41,255 per kg from yesterday's close of Rs 41,490.
Globally, gold fell after hitting a seven-week peak in the previous session as the dollar edged up and a technical correction set in, but it was still set to end higher for a third straight week.
Spot gold dropped 0.2 percent to USD 1,193.66 per ounce in early trade. It touched its strongest since Nov. 23 at USD 1,206.98 on Thursday.
Among other precious metals, spot silver fell 0.3 percent at USD 16.65, after hitting a near one-month high of USD 16.92 in the previous session.
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