Gold extends losses on low buying support

Gold weakened for the third straight day today shedding Rs 45 to Rs 17,140 per ten grams on the bullion market here on weak demand.

Standard gold and ornaments fell by Rs 45 each to Rs 17,140 and Rs 16,990 per ten grams, respectively, while sovereign remained flat at Rs 14,050 per eight-gram piece.

However, silver ready recovered by Rs 140 to Rs 27,140 per kg due to higher offtake by industrial units, while weekly-based delivery traded higher by the same margin at Rs 27,040 per kg.

Silver coins also gained Rs 100 at Rs 33,500 for buying and Rs 33,600 for selling of 100 pieces.