For the second straight session, Silver began on a bearish note and stretched losses and fell down by Rupees 50, to 52,500 per kilogram on stockists’ constant selling on passive demand. On the other hand, gold on restricted sales, maintain a stable rate of Rs.28, 040 for every ten grams, on limited deals.

The merchants said, subsequent to the closing of the abroad markets because of Christmas holidays, and due to lack of any directions, the sentiment on trading, turned out to be bearish.

The gold in the international market, which normally fixes the price trend in the local market, stayed without any change as its market in Australia, Hongkong and Singapore were closed.

Due to the jewelery manufacturers and industrial units’ submissive demand, silver fell down in stockists’ sustained selling.

In the home market, under pressure selling, it lost an additional Rupees 50 to Rupees 52,500 for each kilogram, and on delivery on weekly basis, by Rs.80 to Rupees 53, 030 for every kilogram, whilst the for buying, the silver stayed at Rs. 59,000, and for 100 pieces selling at Rs.60,000.

However 99.5% and 99.9% purity gold stayed steady at Rs.27, 900 and Rs.28, 040 for every ten grams correspondingly. The Sovereigns followed them in close heels, and got traded without any changes at Rupees 23,300 for every 8 gram piece in dispersed deals.