Gold, silver fall from record levels

Gold prices fell by Rs 100 to Rs 19,400 per 10 grams in the national capital today, while silver dropped by Rs 130 to Rs 33,570 per kg, due to a dearth of buying support at record high levels.

Analysts said that shifting of investor funds from bullion markets to surging domestic equities for quick gains also reduced demand for the metal, they said.

Gold of 99.5 per cent and 99.5 per cent purity fell by Rs 100 each to Rs 19,400 and Rs 19,300 per ten grams, respectively. Sovereigns held steady at Rs 15,400 per piece of eight grams in restricted buying.

In line with the weakening trend, silver ready dropped by Rs 130 to Rs 33,570 per kg and weekly-based delivery by Rs 240 to Rs 32,980 per kg.

Silver coins followed suit and lost Rs 200 to Rs 35,300 for buying and Rs 35,400 for selling of 100 pieces.