On Saturday, gold prices dropped by Rs. 125 reaching Rs. 27,700 per 10 grams in the national capital of India, in line for the continuous selling by stock market traders on a weak demand during a weak global trend. As the tougher USD limited demand for gold as a substitute investment.
USD controlled gold prices in New York, as it normally sets the price trend on the national front, dropping by $10.40 to $1,448.10 an ounce.
Gold of 99.9% and 99.5% purity ran below by Rs. 125 each to reach Rs. 27,700 and Rs. 27,500 per 10 grams, on the national front. On Friday, gold had lost Rs. 25. Sovereigns as well decreased by Rs. 100 to Rs. 23,900 per piece of eight grams.
Silver dropped by Rs. 200 to reach Rs. 45,800 per kg on weak demand by industrial units and coin makers. Reliable with the general weak trend, silver already fell by Rs. 200 at Rs. 45,800 per kg, despite the fact weekly-based delivery increased by Rs. 90 to reach Rs. 45,240 per kg.