Gold slips to Rs 29,650 per 10g

New Delhi: Gold plunged by Rs 600 to Rs 29,650 per ten grams at the bullion market on Sunday on fall in demand from jewellers at prevailing higher levels coupled with a weak trend overseas.
Silver followed suit, falling by Rs 950 to Rs 41,100 per kg on poor offtake by industrial units and coin makers.
Traders said sentiment dampened as demand from jewellers weakened amid a weak trend overseas where gold retreated from almost two-year highs as investors pared bets on the outcome of next week’s UK vote on membership in the European Union, reducing demand for the metal as a haven. Globally, gold fell by USD 13.50 to USD 1,278 an ounce in New York in yesterday’s trade.