Gold costs today broke below the Rs. 29,000-mark by plunging Rs. 150 to Rs. 28,900 per 10 grams, taking a hit from sluggish trend overseas and fall in demand from local jewellers.
Silver likewise fell by Rs. 180 to Rs. 40,800 per kg because of reduced offtake by industrial units and coin makers.
Traders said request weakness brought on by the end of wedding season at the local spot market kept up the warmth.
Internationally, gold fell by 0.22% to $1,201.10 an ounce and silver by 0.35% to $16.89 an ounce in Singapore.
In the national capital, gold of 99.9% and 99.5% purity dropped by Rs. 150 each to Rs. 28,900 and Rs. 28,750 per 10 grams, respectively. The valuable metals had picked up Rs. 200 on Saturday. The market was closed yesterday on account of Holi.
Sovereign, however, climbed by Rs. 100 to Rs. 24,400 per piece of eight grams in scattered deals.
Following gold, silver ready declined by Rs. 180 to Rs. 40,800 per kg and week by week based delivery traded lower by a similar margin to Rs. 40,350 for each kg.
Silver coins too plummeted by Rs. 1,000 to Rs. 71,000 for purchasing and Rs. 72,000 for offering of 100 pieces.