The gold prices continued to losing trend for the third consecutive day on the bullion market in Mumbai on Saturday backed by the lack of local demand coupled with persistent stockists offerings in view of further fall in global markets. The silver also followed the same trend as it moved down further due to poor industrial buying enquiries on the back of lower overseas advices.
The Gold futures fell in New York to its lowest levels in more than three weeks as the US Dollar rose ahead of a meeting of Group of Eight finance ministers.
The Gold for August delivery dropped by $21.30 or 2.2 per cent to $940.70 an ounce on the Comex Division of the New York Mercantile Exchange.
The June contract also slipped to $940.10 an ounce. The silver for July lost by 61.8 cents or four per cent to $14.875 an ounce.
In the domestic market, the standard gold (99.5 purity) fell further by Rs 125 per ten grams to Rs 14,490 from Rs 14,615 on June 5.
The pure gold (99.9 purity) also dropped by Rs 130 per ten grams to Rs 14,555 from Rs 14,685 previously. The Silver ready (.999 fineness) fell by Rs 60 per kilo to Rs 23,190 from Rs 23,250.
The Gold futures fell in New York to its lowest levels in more than three weeks as the US Dollar rose ahead of a meeting of Group of Eight finance ministers.
The Gold for August delivery dropped by $21.30 or 2.2 per cent to $940.70 an ounce on the Comex Division of the New York Mercantile Exchange.
The June contract also slipped to $940.10 an ounce. The silver for July lost by 61.8 cents or four per cent to $14.875 an ounce.
In the domestic market, the standard gold (99.5 purity) fell further by Rs 125 per ten grams to Rs 14,490 from Rs 14,615 on June 5.
The pure gold (99.9 purity) also dropped by Rs 130 per ten grams to Rs 14,555 from Rs 14,685 previously. The Silver ready (.999 fineness) fell by Rs 60 per kilo to Rs 23,190 from Rs 23,250.
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