Gold prices slip to two-week low on global cues, muted demand
In the national capital, gold of 99.9 and 99.5 per cent purity fell by Rs 70 each to Rs 31,000 and Rs 30,850 per ten grams respectively, a level last seen on September 3.
PTI Mumbai Last Updated: September 16, 2016 | 15:28 IST
Gold prices fell by Rs 70 to trade at nearly two-week low of Rs 31,000 per ten grams at the bullion market on Friday, tracking a weak trend overseas amid slackened demand from jewellers at domestic spot market.
Silver also dropped by Rs 350 to Rs 45,100 per kg on reduced offtake by industrial units and coin makers.
Traders said besides a weak trend overseas, easing demand from jewellers and retailers at domestic spot market led to decline in gold prices.