New Delhi, Jan 28 (PTI) Gold prices today fell by Rs 130 to Rs 16,610 per ten gram in the bullion market here on sustained selling by stockists influenced by a weakening global trend.
Silver prices plunged for the second day in a row by Rs 300 to Rs 26,400 per kg.
Marketmen said sustained selling by stockists in tandem with a weakening global trend mainly pulled down both gold and silver prices.
Gold in New York lost USD 9.60 at USD 1,087.20 an ounce following a rebound in the US dollar, eroding demand for the metal as an alternate investment.
Sluggish demand due to temporary break in marriage season also influenced the trading sentiment, they said.
Standard gold and ornaments fell by Rs 130 each to Rs 16,610 and Rs 16,460 per ten gram respectively while sovereign lost Rs 50 at Rs 13,950 per piece of eight gram.
