Gold extends losses, down Rs 200 on muted demand

News, Business

New Delhi: Falling for the third straight day, gold prices declined further by Rs 200 to Rs 30,450 per 10 grams at the bullion market today amid easing demand from local jewellers weakness in global markets.

However, silver strengthened by Rs 50 to Rs 40,900 per kg on demand from industrial units and coin makers.

Traders said a weak trend overseas, where gold declined as the dollar strengthened, weighed on gold prices here. Globally, gold fell 0.41 per cent to USD 1,274.80 an ounce in Singapore.