Gold drops by Rs. 130 to Rs. 30,360 per 10 grams on sluggish demand

New Delhi – Snapping a three-day rally, gold prices fell by Rs. 130 to Rs. 30,360 per 10 grams in the national capital on Saturday on stockists selling against fall in demand at prevailing higher levels.

Silver also fell by Rs. 180 to Rs. 45,320 per kg on reduced offtake.

Traders said stockists selling against fall in demand at prevailing higher levels mainly led to decline in gold and silver prices.

In the national capital, gold of 99.9 and 99.5 per cent purity declined by Rs. 130 to Rs. 30,360 and Rs. 30,160 per 10 grams, respectively.

It had gained 690 in last three sessions.

Sovereign continued to be asked last level of Rs. 25,100 per piece of 8 grams.

Similarly, silver ready declined by Rs. 180 to Rs. 45,320 per kg and weekly-based delivery by Rs. 10 to Rs. 45,470 per kg.

The white metal had gained Rs. 1,745 in last three sessions.

Silver coins, however, remained steady at Rs. 85,000 for buying and Rs. 86,000 for selling of 100 pieces.