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Gold dips below 29k level

Gold prices dipped below the 29K mark to a three-week low of Rs 28,840 per 10 gm, down by Rs 475, in the national capital today. On the other hand, silver also dropped by rs 700 to rs 54,300 per kg on reduced off take by industrial units and jewellery makers. The domestic demand had dried up due to off-marriage season and retailers refrained from buying at such costly levels further dampened the sentiment. On the domestic front, gold of 99.9 and 99.5 per cent purity suffered a setback of Rs 475 each to Rs 28,840 and Rs 28,700 per 10 gm. The metal has plunged Rs 435 in last three sessions. Sovereign followed suit and declined by Rs 50 to Rs 23,700 per piece of eight gram. However, silver coins held steady at Rs 63,000 for buying and Rs 64,000 for selling of 100 pieces.

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