Gold declines Rs 640 to Rs 1,29,460 per 10 grams

New Delhi: Gold prices declined by Rs 640 to Rs 1,29,460 per 10 grams in the national capital on Thursday due to poor offtake by stockists and retailers amid weak global trends, according to the All India Sarafa Association.

The precious metal of 99.5 per cent purity decreased by Rs 640 to Rs 1,28,860 per 10 grams (inclusive of all taxes).

However, silver prices surged by Rs 5,100 to Rs 1,68,200 per kilogram (inclusive of all taxes), marking its gains for the third consecutive session, as per the association.

The white metal has risen by Rs 13,200 in the past three sessions from Rs 1,55,000 per kg on Monday.

On the global front, spot gold slipped by $5.60, or 0.13 per cent, to $4,158.38 per ounce. Spot silver was trading marginally higher at $53.39 an ounce in the overseas trade.

Silver is showing renewed strength and regaining bullish momentum, supported by fresh supply concerns stemming from China, Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said. PTI