Gold falls Rs 250; silver tumbles Rs 1,700

New Delhi: prices declined by Rs250 to Rs74,100 per 10 grams in the national capital on Monday due to tepid demand from local jewellers and retailers. The precious metal of 99.9 per cent purity had closed at Rs74,350 per 10 grams in the previous session on Friday. Silver also tumbled by Rs1,700 to Rs85,500 per kg due to reduced offtake by industrial units and coin makers, according to the All India Sarafa Association. Meanwhile, gold of 99.5 per cent purity also fell by Rs250 to Rs73,750 per 10 grams. Traders attributed the fall in gold prices to subdued demand from local jewellers and stockists. Globally, Comex gold was trading higher at $2,531.10 per ounce.