Gold prices saw yet another steep fall on Thursday, with the precious metal declining Rs 700 to Rs 77,050 per 10 grams in the national capital amid subdued demand trend in the global markets, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity closed at Rs 77,750 per 10 grams in the previous session, a day after falling marginally by Rs 50 on Wednesday. Silver also plummeted Rs 2,310 to Rs 90,190 per kg against the previous close of Rs 92,500 per kg. Extending the losses for the fourth straight session, the price of gold of 99.5 per cent purity fell Rs 700 to Rs 76,650 per 10 grams. It had ended at Rs 77,350 per 10 grams on Wednesday. In futures trade on the MCX, gold contracts for December delivery plunged Rs 804 or 1.08 per cent to trade at Rs 73,678 per 10 grams. During the day, the precious metal declined Rs 1,182 or 1.59 per cent to Rs 73,300 per 10 grams. "Gold's weakness persisted with price falling near Rs 73,500 in MCX as the dollar .