Gold extends losses on muted demand, silver slips
Gold prices fell by Rs 105 per 10 grams due to reduced demand from jewellers and stockists.
Mumbai: Gold prices fell by Rs 105 per 10 grams at the bullion market today due to reduced demand from jewellers and stockists.
Silver also slipped on selling pressure and lost Rs 810 to trade below the Rs 42,000-mark at Rs 41,820 per kg.
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Pure gold also fell by a similar margin to settle at Rs 28,820 per 10 grams as against Rs 28,925 earlier.
Silver slumped by Rs 810 to close at Rs 41,820 compared with Rs 42,630 previously.
Globally, gold steadied after dropping back sharply from the previous session's five-months highs, with a firmer dollar counterbalancing concerns over geopolitical tensions in North Korea and the Middle East.
Spot gold stood at USD 1,253.30 an ounce at early trade, little changed from late on Friday.
Among other precious metals, silver was down 0.3 per cent at USD 17.90 an ounce, having hit its highest since Feb 27 at USD 18.47 on Friday.