Mumbai:- Gold prices dropped for the sixth session at the domestic bullion market here due to reduced buying from stockists and retailers in spite of global higher cues.
Silver also moved down owing to lack of buying support from industrial users.
Standard gold (99.5 purity) slumped by Rs 200 to finish at Rs 28,065 per 10 grams from Tuesday’s closing level of Rs 28,265.
Pure gold (99.9 purity) also dropped by a similar margin to conclude at Rs 28,215 per 10 grams as against Rs 28,415 earlier.
Silver (.999 fineness) dropped by Rs 240 per kg to end at Rs 40,640 compared to Rs 40,880 previously.
In global trade, gold prices edged up on safe-haven buying due to uncertainty over the outcome of Dutch elections, while markets waited for clues on the pace of US interest rate hikes this year.
Spot gold edged up 0.4 per cent to USD 1,203.31 per ounce in early trade.
Spot silver rose 0.5 per cent to USD 16.92 an ounce.
PTI
