MUMBAI: The dream run by the precious metal along with silver seems to have ended at least for the time being as both suffered losses at the bullion market here on Tuesday.
Analysts attributes, selling by stockists influenced by a weakening trend in Asian markets as the main reason for the plunge.
Standard gold and ornaments, which set a new peak of Rs 13,560 and Rs 13,410 in previous day's trading, tumbled by Rs 270 to Rs 13,290 and Rs 13,140 per ten grams respectively.
Silver followed suit and suffered a setback of Rs 1,300 to Rs 24,500 and wee kly based delivery by Rs 1,290 to Rs 26,070 per kg respectively. Silver coins lost Rs 200 to Rs 27,100 for buying and Rs 27,200 for selling of 100 coins.
Traders said emergence of selling by stockists to book profits mainly led to a fall in both gold and silver prices. Gold fell to $994.38 an ounce from all time high of $1,032.70. Silver also fell by 0.7 per cent to $20.03 an ounce.