Mumbai:- Gold prices fell by Rs 120 per 10 grams at the bullion market here today following selling by stockists and investors coupled with subdued local buying interest at higher levels.
Silver dropped on speculative profit-booking after its recent rally on the back of reduced industrial buying.
Standard gold (99.5 purity) declined by Rs 120 to end at Rs 30,960 per 10 grams from Thursday’s closing level of Rs 31,080.
Pure gold (99.9 purity) also moved down by a similar margin of Rs 120 to Rs 31,110 per 10 grams from Rs 31,230.
Silver (.999 fineness) dipped by Rs 690 to conclude at Rs 47,470 per kg as against Rs 48,160 earlier.
Globally, gold steadied as investors assessed the impact of a modest Bank of Japan stimulus, and was on track for a second monthly gain in a row, while the dollar retreated.
Spot gold was down 0.1 per cent at USD 1,333.60 an ounce in early trade, on track for its first weekly gain in three weeks and a near 1 per cent monthly gain.
US gold was down USD 1.70 at USD 1,330.60 an ounce.
Silver was down 0.4 per cent at USD 20.07 an ounce, and headed for a second monthly gain, after a 7.6 per cent rise in July.
PTI
