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Gold prices extended their fall at the bullion market on Friday on hectic selling from stockists and investors amid subdued demand as well as weak global cues.
Silver also encountered heavy speculative selling pressure and dropped below the Rs 55,000 per kg—level on the back of poor industrial buying.
Standard gold of 99.5 per cent purity dropped Rs 110 to close at Rs 29,410 per 10 gm from Thursday’s closing level of Rs 29,520.
Gold with a purity of 99.9 per cent also dipped by a similar margin to end at Rs 29,545 per 10 gm from Rs 29,655.
Silver ready (.999 fineness) slumped Rs 925 to conclude at Rs 54,610 per kg from Rs 55,535 previously.
At the global front, gold declined further on strong dollar and a series of buoyant US economic data lowering the yellow metal’s safe haven appeal.
Gold for April delivery slid $17.60 to settle at $1,578.10 an ounce on the Comex division of the NYMEX late yesterday. Silver for May contract shed 55 cents to $28.43 an ounce.
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