 "Gold, silver fall on global cues, low demand")
Gold prices fell by Rs 120 to Rs 26,130 per 10gm at the bullion market on Thursday, largely in line with a weakening trend abroad amid low demand from jewellers.
Silver dropped for a fourth day, too, and lost another Rs 480 to Rs 34,700 a kg on poor offtake by industrial units and coin makers.
Traders said sentiment dampened after gold fell for a fourth day in the global market following the US Fed's indication of a hike in interest rate this year, boosting the dollar and curbing demand for the precious metal as an asset.
Sovereign, however, remained steady at Rs 23,000 a piece of eight gram in limited deals.
Tracking gold, silver ready fell by Rs 480 to Rs 34,700 a kg and weekly-based delivery by Rs 495 to Rs 34,610 a kg.
Silver dropped for a fourth day, too, and lost another Rs 480 to Rs 34,700 a kg on poor offtake by industrial units and coin makers.
Traders said sentiment dampened after gold fell for a fourth day in the global market following the US Fed's indication of a hike in interest rate this year, boosting the dollar and curbing demand for the precious metal as an asset.
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In Delhi, gold of 99.9 and 99.5 per cent purity plunged by Rs 120 each to Rs 26,130 and Rs 25,980 per 10gm respectively.
Sovereign, however, remained steady at Rs 23,000 a piece of eight gram in limited deals.
Tracking gold, silver ready fell by Rs 480 to Rs 34,700 a kg and weekly-based delivery by Rs 495 to Rs 34,610 a kg.
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