Gold, Silver Drop On Global Cues
Gold dropped further at the bullion market here today on stockists' selling on the back of subdued global cues.
Photo Credit : Reuters,
Standard gold (99.5 purity) fell Rs 215 to close at Rs 28,655 per 10 grams from last Monday's closing level of Rs 28,870.
Pure gold (99.9 purity) also moved down by a similar margin to end at Rs 28,805 per 10 grams as against to Rs 29,020 previously.
Silver (.999 fineness) tumbled by Rs 555 to finish at Rs 38,255 per kg as against Rs 38,810 previously.
In the global market, gold prices yesterday suffered their steepest one-day drop in nearly six weeks, as data on retail sales and US manufacturing came in better than expected and easing geopolitical tensions between North Korea and the US undercut safe haven demand for the precious metal.
December gold declined by USD 10.70 to settle at USD 1,279.70 an ounce.
September silver tumbled by 40.8 cents to end at USD 16.714 an ounce.
(PTI)