The downward movement of gold continued for the fourth straight day as prices dropped by ₹50 to ₹34,000 per 10 grams at the bullion market on Thursday owing to slackened demand from local jewellers, despite positive global cues.
Similarly, silver shed ₹150 to ₹40,650 per kg owing to reduced offtake by industrial units and coin makers.
Globally, gold was trading 0.18% higher at USD 1,309.20 an ounce and silver by 0.52% to USD 15.71 an ounce in New York.
In the national capital, gold of 99.9% and 99.5% purities drifted lower by ₹50 each to ₹34,000 and ₹33,850 per 10 grams, respectively.
The precious metal had lost ₹230 in the previous three days.
Sovereign gold also weakened by ₹100 to ₹26,000 per piece of eight grams.
Tracking gold, silver ready declined by ₹150 to ₹40,650 per kg, while weekly-based delivery fell by ₹134 to ₹39,490 per kg.
On the other hand, silver coins continued to be traded at ₹80,000 for buying and ₹81,000 for selling of 100 pieces.
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