Gold declines Rs 800 to 3-week low of Rs 1.45 lakh per 10 grams

Gold price resumed its downward trend to hit a three-week low in the national Capital on Friday, declining by Rs 800 to Rs 1.45 lakh per 10 grams, and silver dropped Rs 2,000 due to sluggish local demand.

The yellow metal of 99.9 per cent purity depreciated by Rs 800 to Rs 1,45,500 per 10 grams (inclusive of all taxes) from Thursday’s closing level of Rs 1,46,300 per 10 grams, according to the All India Sarafa Association.

Silver also dropped by Rs 2,000 to Rs 2,22,500 per kilogram (inclusive of all taxes). The white metal had closed at Rs 2,24,500 per kg in the preceding session.

Gold traded near this level on June 25, when it was quoted at Rs 1,45,300 per 10 grams.

Traders said gold prices resumed their decline after a two-session pause, falling to their lowest level in three weeks, while silver continued to witness sustained liquidation.

In international markets, spot gold gained $15.42, or 0.39 per cent, to $3,992 per ounce; however, silver edged lower to $55.37 per ounce.