Gold prices cracked below the Rs30,000-level, tumbling by Rs230 to Rs29,820 per 10 grams at the bullion market on Tuesday owing to slackened demand from jewellers and retailers at prevailing levels amid a weak trend overseas.
Silver also eased by Rs160 to Rs41,100 per kg on lack of buying support from industrial units and coin makers. Bullion traders said besides a weak trend overseas, subdued demand from jewellers and retailers at the domestic spot market led to the fall in gold and silver prices.
Globally, gold traded lower by 0.04 per cent to $1,273.50 an ounce in Singapore. In the national capital, gold of 99.9 per cent and 99.5 per cent purity plunged by Rs230 to Rs29,820 and Rs29,670 per 10 grams, respectively.