Gold prices extended their losing streak for the fourth straight session on Friday, tumbling Rs 2,500 to Rs 1.40 lakh per 10 grams in the national capital, as subdued post-Diwali demand and weak global trends weighed on the precious metal, news agency PTI reported.

Source: PTI via The Sen Times

The 99.9 per cent pure yellow metal declined Rs 2,500 to Rs 1,40,900 per 10 grams (inclusive of all taxes) from Thursday's close of Rs 1,43,400 per 10 grams, according to the All India Sarafa Association figures cited by PTI.

Rs 1,40,900Gold per 10g, Delhi (99.9%)
-Rs 2,500Friday's fall; 4th straight session
-Rs 3,500Silver's fall on Friday

Silver also resumed its decline after remaining unchanged in the preceding session, shedding Rs 3,500 on Friday, PTI reported. On Thursday, gold had fallen Rs 2,200 to Rs 1,43,400 per 10 grams while silver had held unchanged, according to the previous day's PTI market report.

Retail trackers pointed the same way: Upstox, citing GoodReturns data, reported gold rates falling again on Friday, November 13, with the metal now about 5 per cent below its November 5 peak after festival demand pulled forward into Dhanteras and Diwali week faded.

Why bullion is sliding

Traders and wire reports attribute the slide to subdued post-Diwali domestic demand and weak global trends. The fall extends a correction that has taken Delhi gold down from Rs 1,45,600 per 10 grams at Wednesday's close to Rs 1,40,900 in two sessions.

The four-session slide is the longest losing run in Delhi bullion since the post-festival correction began, and buyers who waited out the Diwali rush are now seeing prices roughly Rs 4,700 per 10 grams below Wednesday's level. Sources: PTI market reports, November 12 and 13 (via The Sen Times and Bazar Observer); Upstox/GoodReturns gold rate report, November 13.