Business

Gold sheds Rs 400 on global weakness

PTI

Falling for the second day, gold lost its sheen by plunging another Rs 400 to trade at two-week low of  Rs 29,150 per 10 grams on Friday, tracking a weak trend overseas. Moreover, reduced offtake by jewellers owing to slackened demand at the domestic spot market at prevailing level too hit sentiment. Silver cracked below the  Rs 41,000-mark by tumbling  Rs 550 to  Rs 40,950 per kg on poor offtake by industrial units and coin makers. Traders said sentiment was downbeat, largely in sync with a weak trend overseas. A rally in the US stock markets that saw Dow Jones crossing 20,000 on Thursday for the first time.