New Delhi, Nov 5 Taking weak cues from global market and slackened demand from jewelers, gold continued its falling streak for the seventh straight day and prices plunged by Rs 180 to trade at over two-month low of Rs 26,250 per 10 grams.
Silver slipped below Rs 36,000 mark by falling by Rs 320 to Rs 35,750 per kg on reduced off take by industrial units and coin makers.
Bullion traders said a weakening trend in global market on renewed speculations that the Federal Reserve will raise US interest rates in December, eroding demand for the precious metals, kept pressure on the prices.
Globally, gold fell 0.87 per cent to USD 1,107.50 an ounce and silver by 1.28 per cent to 15.06 an ounce in New York in Wednesday’s trade.
In Delhi, gold of 99.9 per cent and 99.5 per cent purity slumped by Rs 180 each to Rs 26,250 and Rs 26,100 per 10 grams, respectively, a level last seen on August 17. It had lost Rs 835 in last six days.
Sovereign however remained flat at Rs 22,300 per piece of eight grams in scattered deals.
Following gold, silver ready plunged by Rs 320 to Rs 35,750 per kg and weekly-based delivery by Rs 475 to Rs 35,375 per kg.
Silver coins declined by Rs 1,000 to Rs 49,000 for buying and Rs 50,000 for selling of 100 pieces.
