Gold, silver prices fall for 5th day

MUMBAI: Gold and silver prices continued to fall for the fifth day at the bullion market here today on persistent offerings from stockists in view of sustained fall in the global markets.

Standard gold (99.5 purity) moved down by another Rs 175 per 10 grams to Rs 29,845 from Rs 30,020 yesterday.

Pure gold (99.9 purity) also fell by a similar margin to end at Rs 29,995 from Rs 30,170.

Silver (.999 fineness) fell by Rs 800 per kilo to close at Rs 42,385 from Rs 43,185.

In global market, gold futures slid for a fifth straight session yesterday, settling at their lowest level in about four months, as mostly upbeat economic data kept alive expectations for higher US interest rates this year.

December gold fell by $15.60, or 1.2 per cent, to settle at $1,253 an ounce.

December silver dropped by 35 cents, or 2 per cent, to $17.345 an ounce.