NEW DELHI: Gold fell further by Rs 90 to Rs 16,850 per ten grams on the bullion market here on Wednesday due to heavy selling pressure induced by weak global cues.
Standard gold and ornaments declined by Rs 90 each to Rs 16,850 and Rs 16,700 per ten grams, respectively. They had lost Rs 140 each yesterday. Gold has dropped 0.7 per cent to $1,095.32 an ounce in London today.
Dealers said selling pressure below the psychological $1,100 level globally, led to a fall in the prices of both gold and silver. Retail customers are waiting for more correction in gold prices.
In line with the general trend, silver ready plunged by Rs 400 to Rs 25,200 a kg while, weekly—based delivery lost Rs 485 to Rs 24,840 a kg. Silver coins declined by Rs 100 to Rs 33,300 for buying and Rs 33,400 for selling of 100 pieces. - PTI
