Gold lost another Rs 170 to Rs 30,320


New Delhi: Gold developed its droop for the third day and lost another Rs 170 to Rs 30,320 for every 10 grams in the bullion showcase today in the midst of a debilitating worldwide pattern and slack interest from gem specialists.

Silver broke beneath the Rs 42,000-mark by tumbling Rs 920 to Rs 41,930 for every kg on poor offtake by modern units and coin creators.

Estimation was downbeat, to a great extent with regards to a powerless worldwide pattern where gold is on course for the greatest week after week misfortune in two years to exchange at four-month lows on desires that the Federal Reserve is near raising US financing costs, boosting the dollar and sapping the valuable metal's place of refuge request.

Globally, gold fell by 0.06 per cent to $1,254.40 an ounce, the lowest level since June 7, and silver by 0.09 per cent to $17.27 an ounce in Singapore.Furthermore, easing demand from jewellers and retailers in the domestic bullion market weighed. In the national capital, gold of 99.9 per cent and 99.5 per cent purity slumped by Rs 170 each to Rs 30,320 and Rs 30,170 per 10 grams, respectively.

The precious metal had lost Rs 760 in the past two days.

Sovereign, however, held steady at Rs 24,400 per piece of eight grams.

Tracking gold, silver ready plunged by Rs 920 to Rs 41,930 per kg and weekly-based delivery by Rs 970 to Rs 41,575 per kg.

Silver coins, too, plummeted by Rs 2,000 to Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.