Falling Gold: Silver also slips below 41,000 

In the national capital, 99.9 per cent and 99.5 per cent purity gold dropped by Rs 250-250 to Rs 31,200 and Rs 31,050 per ten gram respectively.

New Delhi: After continuous climbing today, there has been a great decline in the price of gold. Due to the declining price of gold today, sluggish buying from local jewelers is a major reason. 

Gold prices
fell by Rs 250 to Rs 31,200 per ten gram in the national capital today on the back of a weakening trend in gold prices at Delhi. In the national capital, 99.9 per cent and 99.5 per cent purity gold dropped by Rs 250-250 to Rs 31,200 and Rs 31,050 per ten gram respectively. However, the eight-gram gini remained at Rs 24,800 per unit. 

Why fall in gold
Sarfra traders said that due to the lack of demand at the prevailing levels by local jewelers and retailers, gold prices have declined. However, a strong stance on the global level has tried to stop the fall. Globally, gold in gold rose 0.15 percent to $ 1,349.30 an ounce in New York yesterday. Silver also gained 0.72 per cent to $ 17.38 an ounce. 

Silver
also fell by Rs 350 to Rs 40,650 per kg on reduced offtake by industrial units. With this, silver has gone below the level of 41 thousand. Similarly, silver ready, silver ready dropped by Rs 350 to Rs 40,650 per kg and weekly delivery fell by Rs 170 to Rs 39,960 per kilogram. Silver and silver, however, lost Rs 1,000 to Rs 75,000 and Rs 76,000 per hundred respectively.