Gold, silver slide on global uncertainty
Gold prices dropped further by Rs 510 at the bullion market here on heavy selling by stockists and traders following a steep fall.
By PTI | Updated:
MUMBAI: Gold prices dropped further by Rs 510 at the bullion market here on Thursday on heavy selling by stockists and traders following a steep fall in New York market.
Silver also slumped on hectic speculative unwinding amidst reduced industrial demand.
In New York, gold futures dipped on profit selling over uncertainty ahead of vote in Germany over Eurozone rescue fund.
Standard gold (99.5 purity) plunged by Rs 510 per 10 grams to close at Rs 25,685 from Wednesday's closing level of Rs 26,195.
Pure gold (99.9 purity) also plummeted by Rs 500 per 10 grams to finish at Rs 25,820 from overnight close of Rs 26,320.
Silver ready (.999 fineness) slumped by Rs 1,700 per kg to end at Rs 50,900 from Rs 52,600 yesterday.
In New York, gold for December delivery declined by USD 34.40 to USD 1,618.10 an ounce on the COMEX division of the NYMEX yesterday.
December silver was down by USD 1.40 to USD 30.13 an ounce.
Silver also slumped on hectic speculative unwinding amidst reduced industrial demand.
In New York, gold futures dipped on profit selling over uncertainty ahead of vote in Germany over Eurozone rescue fund.
Standard gold (99.5 purity) plunged by Rs 510 per 10 grams to close at Rs 25,685 from Wednesday's closing level of Rs 26,195.
Pure gold (99.9 purity) also plummeted by Rs 500 per 10 grams to finish at Rs 25,820 from overnight close of Rs 26,320.
Silver ready (.999 fineness) slumped by Rs 1,700 per kg to end at Rs 50,900 from Rs 52,600 yesterday.
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In New York, gold for December delivery declined by USD 34.40 to USD 1,618.10 an ounce on the COMEX division of the NYMEX yesterday.
December silver was down by USD 1.40 to USD 30.13 an ounce.
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