New Delhi: Gold prices plunged Rs235 to Rs28,915 per 10 grams at the bullion market on Tuesday amid a weak trend overseas and fall in demand from local jewellers.
However, silver remained in demand and advanced by Rs315 to Rs39,815 per kg.
Traders said apart from a weak trend overseas, fading demand from local jewellers mainly pulled down gold prices.
Globally, gold prices fell 0.02% to $1,260.10 an ounce in Singapore. In the national capital, gold prices of 99.9% and 99.5% purity tumbled Rs235 each to Rs28,915 and Rs28,865 per 10 grams respectively.
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Gold prices had gained Rs 50 on Monday.
Sovereign, however, remained unaltered at Rs 24,400 per piece of eight gram. On the other hand, silver ready rose further by Rs315 to Rs39,815 per kg, while weekly-based delivery recaptured the Rs 40,000-mark per kg by surging Rs700.
Silver coins, however, continued to be traded at previous level of Rs71,000 for buying and Rs72,000 for selling of 100 pieces.