New Delhi, May 14 (PTI) Gold and silver fell today due to a weakening global trend and slackened spot demand. While gold declined by by Rs 240 to Rs 22,230 per 10 grams, silver took a plunge of Rs 540 to Rs 54,410 per kg.
Trading sentiments turned bearish as gold in global markets showed weakness due to a stronger dollar eroding appeal of the precious metal as an alternative asset.
Gold in global markets, which normally sets a price trend on the domestic front, fell by USD 11.70 to USD 1,495.20 an ounce.
In addition, lack of demand at spot markets despite the ongoing marriage season, also kept pressure on the prices, traders said.
On the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 240 each to Rs 22,230 and Rs 22,120 per 10 grams, respectively.