NEW DELHI: Both the precious metals, gold and silver, fell for the second straight session today on heavy selling by stockists in tandem with a weak global trend.
Gold plunged further by Rs 375 to Rs 28,350 per 10 grams, after losing Rs 475 in the previous session. Silver lost Rs 520 to Rs 41,100 per kg on poor offtake by industrial units and coin makers.
Traders said increased selling by stockists in line with a weakening global trend where gold fell below USD 1,300 an ounce as US economic reports backed the case for reduced stimulus and investors awaited employment data, mainly kept pressure on both gold and silver prices.
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