Gold prices slipped from a 28-month high by falling Rs 150 to Rs 30,900 per 10 grams in the bullion market on July 7, with demand from jewellers softening, even as the metal rose overseas.

Traders said the fall in gold demand from jewellers at the existing higher levels mainly contributed to the fall. 

                                      They said, however, a firming trend overseas capped the losses as investors looking for asset haven following market instability in the wake of UK's vote to leave the European Union lapped up gold.

Globally, gold traded higher by 0.3 % to USD 1,367.45 an ounce in Singapore. The prices have gone up by 29 % in 2016 so far.

In the national capital, gold of 99.9 % and 99.5 % purity fell Rs 150 each to Rs 30,900 and Rs 30,750 per 10 grams, respectively. It had risen Rs 400 in yesterday's trade.