Gold prices fell to near two - month low at the domestic bullion market on Wednesday on heavy selling by stockists and investors amid mute local demand mainly driven by a uncertain global cues.
Silver also continued its speculative sell-off in the absence of industrial demand.
Standard gold of 99.5 per cent purity dropped by Rs 365 to close at Rs 29,550 per 10 gm from Tuesday’s closing level of Rs 29,915.
Pure gold of 99.9 per cent purity also dipped by a similar margin to finish at Rs 29,700 per 10 gm from Rs 30,065.
Silver ready (.999 fineness) slid by Rs 335 to conclude at Rs 49,575 per kg as against Rs 49,910 previously.
In London, spot gold was bid up at $1,292.60 an ounce in early trade, while silver was bid higher at $21.17 an ounce.