Gold fell by Rs 240 to Rs 30,460 per ten grams in the capital city Delhi today on stockists sales in the midst of weak trend in global markets.
Silver also facilitated by Rs 50 to Rs 44,150 per kg due to lower demand from manufacturers of the coin.
Marketmen said selling by stockists, triggered by weak global trend as a rebound in equity markets reduced demand for precious metals amid slower physical purchases during Lunar New Year holiday, weighed primarily on gold prices here.
In addition, the lower demand for jewelry makers also yielded no impact, they said.
Gold in Singapore, which normally sets price trend at nationally, fell 0.20 percent to $ 1252.74 an ounce.
Domestically, gold of 99.9 and 99.5 percent purity suffered a setback of Rs 240 each for Rs 30,460 and Rs 30,260 per ten grams respectively. Sovereign held steady at Rs 25,200 per piece of eight grams.
Similarly, silver ready traded Rs 50 lower at Rs 44,150 per kg, while weekly-based delivery gained Rs 50 to Rs 43,850 per kg.
Silver coins held steady at Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.
Reported News Source: PTI Economic Times