Gold’s seven-session rally loses steam, prices fall Rs 2,800 per 10 gms

New Delhi: Gold ended a seven-session rally on Thursday, with prices falling by Rs 2,800 to Rs 1,57,000 per 10 grams in the national capital amid a weak trend in global markets.

The yellow metal of 99.9 per cent purity had closed at Rs 1,59,800 per 10 grams on Wednesday. Silver also faced an even steeper sell-off, tumbling Rs 6,000 to Rs 2,40,000 per kilogram (inclusive of all taxes), according to the All India Sarafa Association.

The white metal had settled at Rs 2,46,000 per kg in the preceding session. Traders said gold and silver prices fell sharply in the domestic market, tracking the weakness in overseas bullion markets.