NEW DELHI: Gold slid for third consecutive session on Thursday losing Rs 140 to Rs 16,710 per ten grams on the bullion market here due to heavy selling triggered by weak global cues.
Standard gold and ornaments tumbled by Rs 140 each to 16,710 and Rs 16,560 per ten grams, respectively. They have lost Rs 230 per ten grams each in last two trading sessions. Sovereign also declined by Rs 50 to Rs 13,950 per eight-gram piece.
Trading sentiment remains bearish as gold fell for the fourth day in the overseas markets. The precious metal declined 0.8 per cent to $1,088.80 an ounce in Singapore. Retail buyers and jewellery fabricators postponing gold purchase on expectations of a further dip in prices.
In line with the general trend, silver ready remained under pressure and declined by Rs 150 to Rs 25,050 per kg, while weekly-based delivery lost Rs 130 to Rs 24,710 a kg. Similarly, silver coins declined by Rs 100 to Rs 33,200 for buying and Rs 33,300 f or selling of 100 pieces. – PTI
