Mumbai:- Gold declined further at the domestic bullion market here today due to subdued offtake from stockists and traders followed by sluggish overseas cues.
Elsewhere, silver also moved down owing to speculative selling as well as lower industrial demand.
Standard gold (99.5 purity) slumped by Rs 125 to finish at Rs 29,660 per 10 grams compared to Tuesday’s closing level of Rs 29,785.
Pure gold (99.9 purity) also fell by a similar margin to settle at Rs 29,810 per 10 grams from Rs 29,935.
Silver (.999 fineness) dropped by Rs 215 to conclude at Rs 41,350 per kg against Rs 41,565 yesterday.
In Europe, gold eased to a two-week low after its biggest one-day drop in four weeks, as growing expectations that Britain will vote to remain in the European Union calmed risk aversion and lent a steadier tone to stocks.
Spot gold was down 0.2 percent at USD 1,265.95 an ounce at early trade, off an earlier two-week low of USD 1,261.01, while US gold futures for August delivery were down USD 4.00 an ounce at USD 1,268.50.
Among other precious metals, silver was down 0.5 per cent at USD 17.21 an ounce.
PTI
