Gold prices fell by Rs180 at Rs28,090 per 10 grams at the bullion market today on slackened demand from jewellers and retailers amid a weakening global trend. Silver also fell by Rs50 at Rs38,400 per kg on reduced offtake by industrial units and coin makers. Traders said besides sluggish demand from jewellers and retailers at current levels, a weakening global trend as easing concerns on Greek debt boosted global equities, mainly kept pressure on gold and silver prices.
Gold in New York, which normally sets price trend on the domestic front, fell by 1.08 per cent to $1,260.10 an ounce in Tuesday's trade. In the national capital, gold of 99.9 and 99.5 per cent purity moved down by Rs180 each at Rs28,090 and Rs27,890 per 10 grams, respectively. It had lost Rs180 on Tuesday. Sovereign, however, remained flat at Rs24,000 per piece of eight grams in limited deals. In line with a general weak trend, silver ready declined by Rs50 at Rs38,400 per kg but weekly-based delivery traded marginally higher by Rs25 at Rs38,025 per kg.