Falling for the third straight day, gold prices dived by another Rs150 to trade at almost four-year low of Rs25,550 per 10 grams at the bullion market today after the yellow metal tumbled for the ninth straight day in global market.
Furthermore, absence of seasonal buying by jewellers also weighed on the gold prices. On the other hand, silver managed to recover some grounds on the back of fresh demand from consuming industries and rose by Rs100 to Rs 34,300 per kg.
Bullion traders said global sell-offs in gold and strengthening dollar amid prospects for higher US interest rates have negatively impacted the precious metals and dragged down to almost four-year low in the national capital.