NEW DELHI, OCT 16: Ending its two-day rise, gold prices fell Rs 150 to Rs 27,150 per 10 grams in the bullion market today on easing demand from jewellers at prevailing levels.
According to local traders, a weak global trend amid a drop in demand from jewellers and retailers at existing levels mainly put pressure on the precious metal prices.
Globally, gold in Singapore, which normally determines domestic price trend, fell 0.6 per cent to USD 1,176.16 an ounce.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity dropped Rs 150 each to Rs 27,150 and Rs 27,000 per 10 grams, respectively. It had gained Rs 500 in the last two sessions.
The sovereign also retreated by Rs 100 to Rs 22,400 per piece of eight grams.
Silver also declined Rs 160 to Rs 37,240 per kg on reduced offtake by industrial units and coin makers.
Silver coins too traded lower by Rs 500 to Rs 52,000 for buying and Rs 53,000 for selling of 100 pieces.
