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Marketmen said gold dropped due to a weak demand from local jewellers and retailers but a better trend overseas limited the slide. Globally, gold was trading higher by 0.38 per cent to USD 1,331.40 an ounce and silver by 0.59 per cent to USD 17.03 an ounce in Singapore.
Trading volume remained thin due to diversion of funds by investors towards soaring equity markets, they said. In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by another by Rs 120 each to Rs 30,830 and Rs 30,680 per 10 grams, respectively.
Sovereign, however, remained unaltered at Rs 24,800 per piece of eight grams. On the other hand, silver ready recovered by Rs 50 to Rs 39,850 per kg and weekly-based delivery by Rs 30 to Rs 38,990 per kg. Silver coins continued to be traded at previous level of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.
Trading volume remained thin due to diversion of funds by investors towards soaring equity markets, they said. In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by another by Rs 120 each to Rs 30,830 and Rs 30,680 per 10 grams, respectively.
Sovereign, however, remained unaltered at Rs 24,800 per piece of eight grams. On the other hand, silver ready recovered by Rs 50 to Rs 39,850 per kg and weekly-based delivery by Rs 30 to Rs 38,990 per kg. Silver coins continued to be traded at previous level of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.
