Gold slumps by Rs 300 to Rs 31,600 per ten grams on weak global cues, low demand
Globally, gold fell 0.37 per cent to USD 1,293.10 an ounce and silver 0.06 per cent to USD 16.38 an ounce in New York in yesterday's trade. Besides, fading demand from local jewellers and retailers at domestic spot market too fuelled the downtrend, they said.
Gold prices dived by Rs 300 to Rs 31,600 per ten grams, extending their slide for the third straight day at the bullion market today, tracking a weak trend overseas amid fall in demand from local jewellers. Image source: Reuters