Gold drops Rs 1,300 to Rs 81,100 per 10 gm & silver plummets Rs 4,600

New Delhi: Gold prices retreated from record high in the national capital on Monday, declining Rs 1,300 to Rs 81,100 per 10 grams following fresh selling by stockists and retailers, according to the All India Sarafa Association.

The precious metal of 99.9 per cent purity had traded flat at Rs 82,400 per 10 grams — its all-time high — on Thursday.

Silver also remained under selling pressure and slipped below the Rs 95,000-mark, depreciating Rs 4,600 to Rs 94,900 per kg.

It had closed at Rs 99,500 per kg on Thursday. Traders said tepid demand from jewellers and retailers in local markets weighed on gold prices.

Prices of gold of 99.5 per cent purity decreased Rs 1,300 to Rs 80,700 per 10 grams. The yellow metal had closed at Rs 82,000 per 10 grams — its all time high — in the previous session on Thursday.

In futures trade on the Multi Commodity Exchange (MCX) on Monday, gold contracts for December delivery fell Rs 329, or 0.42 per cent, to trade at Rs 78,538 per 10 gram.

Silver contracts for December delivery decreased Rs 412, or 0.43 per cent, to Rs 95,071 per kg on the MCX.

Globally, Comex gold futures rose 0.13 per cent, or $3.6 per ounce, to $2,752.80 per ounce. On the other hand, Comex silver futures quoted 0.78 per cent higher at $32.94 per ounce in the Asian market hours.