PT: Gold weakens by Rs 40; silver nosedives by Rs 595
New Delhi, Dec 30 (PTI) Maintaining its losing streak for the third straight day today, gold declined by Rs 40 to Rs 16,910 per 10 gram in the bullion market here as stockists remained net sellers in line with weak global trend.
Silver plunged by Rs 595 to Rs 27,235 per kg.
Trading sentiment remained bearish after the precious metal declined in global markets after rebounding dollar curbed investors appetite for the precious metal as an alternative asset.
In the Asian region, gold slipped 0.2 per cent to trade below 1,100 dollar to 1,094.70 dollar an ounce.
Investors sold the metal to book profits after handsome gains this year, marketmen said.
Standard gold and ornaments lost Rs 40 each at Rs 16,910 and Rs 16,760 per 10 gram respectively while sovereign declined by Rs 30 to Rs 13,970 per piece of eight gram.
