Gold, silver drop on sluggish demand

Snapping its three-day rally, gold prices fell by Rs 130 to Rs 30,360 per ten grams in the national capital today on stockists selling against fall in demand at prevailing higher levels.
Silver also fell by Rs 180 to Rs 45,320 per kg on reduced offtake.
Traders said stockists selling against fall in demand at prevailing higher levels mainly led to decline in gold and silver prices after three-day gains.
In the national capital, gold of 99.9 and 99.5 per cent declined by Rs 130 to Rs 30,360 and Rs 30,160 per ten grams, respectively. It had gained 690 in last three sessions. Sovereign continued to be asked last level of Rs 25,100 per piece of eight gram.

Similarly, silver ready declined by Rs 180 to Rs 45,320 per kg and weekly-based delivery by Rs 10 to Rs 45,470 per kg. The white metal had gained Rs 1,745 in last three sessions.
Silver coins, however, remained steady at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.