New Delhi: Gold priced declined by Rs 75 to Rs 30,425 per 10 grams in the bullion market here on Monday due to sluggish demand at prevailing higher levels amid a weak trend in the overseas market.
Price of silver remained flat at Rs 55,000 per kg. Traders said weak cues from the global markets mainly influenced the gold's prices.
Sentiment remained bearish as the metal dropped in global markets after projections showed that Greece's pro-bailout parties have won enough seats to control the Parliament, curbing demand for the metal as a safe haven.
Gold in Singapore lost 1.3 percent to USD 1,606.72 an ounce, the lowest since June 13. On the domestic front, gold of 99.9 and 99.5 percent purity fell by Rs 75 each to Rs 30,425 and Rs 30,225 per 10 grams, respectively. It had lost Rs 70 on Saturday.
Sovereigns held steady at Rs 24,400 per piece of eight grams. On the other hand, silver remained unchanged at Rs 55,000 per kg, while weekly-based delivery declined by Rs 165 to Rs 54,365 per kg.
Silver coins fell by Rs 1,000 to Rs 64,000 for buying and Rs 65,000 for selling of 100 pieces.


Latest News from Business News desk