Gold prices lost another Rs 40 to close at Rs 14,650 per ten gram in the bullion market on sustained selling by stockists against restricted buying due to off marriage and festival season.
However, silver found buying support at lower levels recovered by Rs 50 to Rs 21,750 per kg. The white metal had lost Rs 400 in previous day’s trading.
Marketmen said subdued demand due to off marriage and festival seasons mainly led to fall in gold prices.
They said a volatile trading in overseas markets, which normally set price trend in domestic markets here, further fuelled the down-trend.
Standard gold and ornaments fell by Rs 40 each to Rs 14,650 and Rs 14,500 per ten gram respectively while sovereign remained flat at Rs 12,300 per piece of eight gram in restricted activity.
On the other hand, silver ready attracted some level buying from stockists and industrial units and recovered by Rs 50 to Rs 21,750 per kg and weekly-based delivery by Rs 20 to Rs 21,600 per kg.
However, silver coins continubed to be asked around previous levels of Rs 28,800 for buying and Rs 28,900 for selling of 100 pieces.