Mumbai, January 31: Gold prices witnessed profit taking after a sharp weekend surge at the bullion market here today on emergence of stockist selling amidst bearish global outlook.
On the other hand, silver firmed up on better investment buying.
Standard gold (99.5 per cent purity) declined by Rs 60 per 10 grams to end at Rs 19,945 from last Saturday’s closing level of Rs 20,005.
Pure gold (99.9 per cent purity) also fell by Rs 40 per ten grams to finish at Rs 20,055 from Rs 20,095 last weekend.
However, silver ready (.999 fineness) moved up by Rs 30 per kilo to settle at Rs 43,735 as against Rs 43,705 previously.
In Europe, Gold prices eased on improved US economic data. It climbed to eight week gain last Friday on the back of unrest in Egypt.
Spot gold was quoted down at USD 1,332.
–Agencies