Gold slides Rs 25 to Rs 34,450; silver down Rs 320

Gold prices on Wednesday declined marginally by Rs 25 to Rs 34,450 per 10 gram at the bullion market in the national capital on muted demand from jewellers, according to the All India Sarafa Association.

Silver also slumped Rs 320 to Rs 41,380 per kg on subdued offtake from industrial units and coin makers.

Traders attributed the decrease in the prices of the yellow metal to lackluster demand from local jewellers amid weak trend overseas.

Globally, gold traded lower at USD 1,313.58 an ounce, while silver was also down at USD 15.75 an ounce in New York.

In the national capital, gold of 99.9 per cent and 99.5 per cent purities dropped Rs 25 each to Rs 34,450 and Rs 34,300 per 10 gram, respectively.