Gold prices tumbled by Rs 3,350 to Rs 72,300 per 10 grams in the local market in New Delhi on Tuesday amid subdued demand by jewellers after the government announced the customs duty cut on the yellow metal and silver to 6 per cent.
According to the All India Sarafa Association, silver prices also nosedived by Rs 3,500 or 4 per cent to Rs 87,500 per kg. In the previous session, it had closed at Rs 91,000 per kg.
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In domestic market, gold prices had peaked to Rs 39,011 per 10 grams in September and are now ruling at Rs 38,800 per 10 gram.
Gold prices firmed up after Tuesday's decline, mainly because of fresh buying by local jewellers at the domestic spot market, coupled with a better trend globally.
Gold extended its slump for the second day and shed another ₹ 350 to hit a six-month low of ₹ 29,000 per 10 grams in the bullion market.
Gold cracked as much as Rs 730 -- its biggest one-day fall this year -- to Rs 30,520 per 10 grammes, in sync with a weak trend overseas on growing US rate hike buzz amid a fall in demand at the spot market.
Globally, gold lost 0.4 per cent to $1,274.19 an ounce in Singapore.
Silver coins, however, continued to trade in a narrow range.
Silver also dived by Rs 600 to Rs 40,600 per kg.
The precious metal had gained Rs 325 in the previous two sessions.
Silver also shot up by Rs 400 to Rs 34,400 per kg.
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Globally, gold advanced 0.3 per cent to USD 1,179.35 an ounce in Singapore.
gold prices fell by Rs 210 to Rs 26,600 per 10 grams.
Gold remained weak for the second straight day and prices fell by another Rs 190 to Rs 26,810 per ten grams.
Though valuations have moderated, they are still above average.
Gold continued its upward trend for the sixth straight day and gained another Rs 190 to Rs 26,190 per ten gram at the bullion market on Thursday.
Silver coins also tumbled by Rs 1,000 to Rs 52,000 for buying and Rs 53,000 for selling of 100 pieces.
Silver also surged by Rs 1,050 to Rs 35,500 per kg on increased offtake by industrial units and coin makers.
Silver also recovered by Rs 250 to Rs 37,300 per kg.
Globally, in Singapore, gold traded a tad higher at USD 1,182.22 an ounce, from $1,182.01 on Thursday.
Silver too advanced by Rs 100 to 38,700 per kg.
Gold drops Rs 110 on macro factors.
Gold prices fell by Rs 30 to Rs 27,160 per 10 grams at the bullion market on Saturday.
Gold prices plunged by Rs 200 to trade at Rs 27,000 per 10 grams at the bullion market on Thursday.
Gold prices recovered by Rs 100 to trade at Rs 27,200 per 10 gm at the bullion market.
Silver also turned weak and prices eased by Rs 100 to Rs 36,900.
Gold prices recovered by Rs 50 to Rs 26,800 per 10 grams at the bullion market on Friday.
Gold prices rose by Rs 100 to Rs 26,550 per 10 grams at the bullion market on Tuesday.
Gold, silver rise on positive global cues.
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Silver also rebounded by Rs 450 to Rs 38,100 per kg
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