MUMBAI: Gold prices declined further by Rs 170 per ten grams on the domestic bullion market today on sustained selling by the stockists andtraders driven by bearish trend in international markets.
Silver, also dropped moving in tandem with yellow-metal amid fall in demand from consumer industries.
Standard gold (99.5 purity) dipped by Rs 170 per ten grams to close at Rs 16,500 from yesterday's closing level of Rs 16,670.
Pure gold (99.9 purity) fell by a similar margin of Rs 170 per ten grams to end at Rs 16,585 from Rs 16,755 previously.
Silver ready (.999 fineness) slipped by Rs 110 per kg to conclude at Rs 27,480 as against Rs 27,590 yesterday.
On International front, gold futures edged lower yesterday in New York to the lowest level in seven weeks on firming dollar.
Gold for December delivery lost USD 9.40 to end at USD 1,086.00 an ounce on the NYMEX's Comex division. The February contract also ended lower at USD 1,086.70.
