Mumbai:- Gold weakened further at the domestic bullion market here today due to poor offtake by stockists as well as lack of local buying support.
Silver also continued its downfall for the third straight session owing to sluggish industrial demand.
Standard gold (99.5 purity) dropped by Rs 195 per 10 grams to finish at Rs 25,600, from its overnight closing level of Rs 25,795.
Pure gold (99.9 purity) also dipped by a similar margin to end at Rs 25,750 per 10 grams compared to Rs 25,945 previously.
Silver (.999 fineness) moved down by Rs 25 to finish at Rs 33,710 per kg from yesterday’s close of Rs 33,735.
Globally, gold fell as a stronger dollar and a rebound in stock markets reduced its appeal as a safe asset.
Spot gold was down 0.4 per cent to USD 1,082.30 an ounce in early European trade, while US gold futures were down 0.4 per cent at USD 1,080.80.
Silver gained 0.3 per cent at USD 13.83 an ounce.
PTI
