Gold prices tumbled by Rs. 120 to Rs. 34,080 per 10 gram at the bullion market on Friday. Sovereign gold, too, fell by Rs. 100 to Rs. 26,500 per piece of 8 gram. In the national capital, gold of 99.9% and 99.5 purity declined by Rs. 120 each to Rs. 34,080 and Rs. 33,910 per 10 gram, respectively.
Silver rates also dropped on Friday by Rs. 370 to Rs. 40,680 per kg due to reduced offtake by industrial units and coin makers. Silver coins, too, faced some pressure and fell by Rs. 1,000 to Rs. 81,000 for buying and Rs. 82,000 for selling of 100 pieces.
In the international market, spot gold fell by 0.28% to$ 1,310.20 an ounce and silver by 0.22% to $15.64 an ounce in New York.
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