New Delhi, February 26 Silver prices fell by Rs 7,400 to Rs 2.70 lakh per kg, while gold dropped by Rs 1,300 to Rs 1.62 lakh per 10 grams in the national capital on Thursday, due to weak global trends and profit-taking by traders.
According to the All India Sarafa Association, silver decreased by Rs 7,400, or nearly 3 per cent, to Rs 2,70,500 per kg (inclusive of all taxes) from the previous closing level of Rs 2,77,900 per kg.
Gold of 99.9 per cent purity depreciated by Rs 1,300, or nearly 1 per cent, to Rs 1,62,900 per 10 grams (inclusive of all taxes). It had closed at Rs 1,64,200 per 10 grams in the previous trading session.
Traders said the decline was largely driven by weak trends in the international markets and mild profit-taking after prices touched three-week highs earlier in the week. A strong US dollar further dampened investor appetite for bullion.
In the international market, spot silver decreased by USD 1.91, or 2.15 per cent, to USD 87.28 per ounce, while gold was trading marginally higher at USD 5,176.21 per ounce.