Traders said a weak trend overseas, where gold sank the most in more than seven weeks after centrist Emmannuel Macron led the first round of voting in the French presidential election, boosted stocks and tiger red a sell-off of the safe-haven bullion, which mainly dampened sentiments here.
Globally, gold tumbled 1.5 per cent -- the biggest decline since March 2 -- to trade at $1,265.51 an ounce in Singapore.
Besides, fall in demand from local jewellers and retailers at current levels weighed on prices, they said. In the national capital, gold of 99.9 and 99.5 per cent purity slumped by Rs 350 each to Rs 29,650 and Rs 29,500 per 10 grams, respectively. It had gained Rs 200 on Saturday's trade.
Silver coins too plummeted by Rs 1,000 at Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.
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