New Delhi: Gold prices eased by 100 to 29,800 per 10 grams at the bullion market on Friday owing to slackened demand from jewellers and customers at prevailing levels amid weak global cues.

Silver also dropped by 550 to 40,350 per kg due to reduced offtake by industrial users.

Traders said besides fall in demand at existing levels, a weak global trend where it slipped from a five-week high after a gauge of US unemployment tumbled to the lowest since 1973, dampening the metal’s appeal as a safe haven, weighed on gold prices.

Globally, gold eased by 0.17% to $1,245.90 an ounce in Singapore.

In the national capital, gold of 99.9% and 99.5% purity fell by 100 each to 29,800 and 29,650 per 10 grams respectively.

It had climbed 400 in Thursday’s trade. Sovereign, however, held steady at 23,200 per piece of eight grams in limited deals. Similarly, silver ready dropped by 550 to 40,350 per kg and weekly-based delivery broke below the 41,000-mark by plunging 1,115 to trade at 40,115 per kg.

On the other hand, silver coins traded at previous level of 64,000 for buying and 65,000 for selling of 100 pieces.

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