Mumbai: Gold prices weakened to hit nearly four month lows at the bullion market here on stockist selling amid muted investor buying as well as retail jewellery demand in the backdrop of sluggish international markets.
Tracking the yellow metal, silver also fell owing sustained speculative unwinding.
Standard gold (99.5 purity) dropped by Rs 120 to close at Rs 25,805 per 10 grams from Wednesday's closing level of Rs 25,925. (the prices have not settled this low since Nov 14).
Pure gold (99.9 purity) also dipped by a similar margin to finish at Rs 25,955 per 10 grams from Rs 26,075.
Silver (.999 fineness) slid by Rs 250 per kg to end at Rs 36,120 as against Rs 36,370 previously.
At overseas, gold prices sunk to their lowest level since early November reacting to US dollar's continued climb.
In New York, gold for April delivery fell by USD 9.50 to settle at USD 1,150.60 an ounce late yesterday, while silver dropped 26.80 cents to end at USD 15.365 an ounce.
