Gold loses sheen in Diwali trade, down Rs 250

News, Business

New Delhi: Gold prices fell by Rs 250 to Rs 30,750 per 10 grams in special 'Diwali Muhurat' trading at the bullion market today despite some token buying by jewellers.

Silver followed suit and cracked below the Rs 41,000-mark by falling Rs 200 to Rs 40,800 per kg on reduced offtake by industrial units and coin makers.

The slide in gold prices was attributed to absence of worthwhile activity as jewellers and retailers made token purchases on the auspicious occasion of 'Diwali' and beginning of Hindu Samvat year 2074.