BULLION: Gold prices slumped below the Rs 30,000-mark by

falling Rs 450 to close at Rs 29,550 per ten grams at the bullion market during the week amid a weak trend overseas.

Silver extended losses and cracked below the Rs 41,000- mark by plunging Rs 1,475 to end at Rs 40,225 per kg on reduced offtake by industrial units and coin makers.

Traders attributed the slide in the precious metals largely on a weak trend overseas, where investors favoured riskier assets on expectations that centrist candidate Emmanuel Macron will become France's next president, mainly affected sentiment here.

Globally, gold ended the week lower at USD 1,267.70 an ounce and silver at USD 17.16 an ounce in New York.

They said, however, token purchases on the auspicious occasion of 'Akshaya Tritiya' capped the fall.

Akshaya Tritiya, considered to be an auspicious day for buying gold and silver.

In the national capital, gold of 99.9 and 99.5 per cent purity commenced lower at Rs 29,650 and Rs 29,500 and slipped further to Rs 29,350 and Rs 29,200 per 10 grams before rebounding to close the week at Rs 29,550 and Rs 29,400 per 10 grams, respectively, still showing a fall of Rs 450 each.

Sovereign declined by Rs 100 to Rs 24,400 per piece of eight grams.

Silver ready also ended the week down by Rs 1,475 to Rs 40,225 per kg and weekly-based delivery closed lower by Rs 1,765 to Rs 39,505 per kg.

Silver coins too plunged by Rs 2,000 to Rs 70,000 for buying and Rs 71,000 for selling of 100 pieces.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)