Gold falls by Rs 50 to Rs 30,400 per 10 gms

Gold falls by Rs 50 to Rs 30,400 per 10 gms New Delhi: Gold prices declined by Rs 50 to Rs 30,400 per 10 grams in the bullion market here Tuesday on slackened demand, while silver held steady in thin trade.

While gold fell after three days of gains on sluggish demand at prevailing higher levels, silver remained flat on lack of buying by industrial units and coin makers, traders said.

Gold of 99.9 and 99.5 percent purity declined by Rs 50 each to Rs 30,400 and Rs 30,200 per 10 grams, respectively. The metal had gained Rs 370 in last three sessions. Sovereign remained flat at Rs 24,450 per piece of eight grams.

On the other hand, silver ready held steady at Rs 53,900 per kg, while weekly-based delivery gained Rs 95 to Rs 53,515 per kg on speculative buying support.

Silver coins continued to be asked around previous levels of Rs 64,000 for buying and Rs 65,000 for selling of 100 pieces.

PTI