New Delhi, March 08: Gold declined further by Rs 40 to Rs 17,100 per ten grams on the bullion market here today due to lack of buying support. Standard gold and ornaments fell by Rs 40 each to Rs 17,100 and Rs 16,950 per ten grams, respectively, while sovereign remained unchanged at Rs 14,050 per eight-gram piece.
The precious metal has lost Rs 65 in last three trading sessions. Marketmen said business volume in both gold and silver has declined on cooling off of seasonal demand.
Some investors are preferring to park their funds in rising equity markets for quick gains, they added. Silver, on the other hand, rose marginally by Rs 10 to Rs 27,150 per kg on buying by industrial units.
The metal had gained Rs 140 per kg in the previous session. Weekly-based delivery gained Rs 90 to Rs 27,139 per kg.
Silver coins remained at their previous rates of Rs 33,500 for buying and Rs 33,600 for selling of 100 pieces.
—PTI