Thursday, September 03, 2015
Press Trust Of India
Mumbai, September 16, 2013
First Published: 13:20 IST(16/9/2013)
Last Updated: 19:35 IST(16/9/2013)
Gold plunges below
30,000 mark on stockists' selling
Gold prices plunged in the domesticbullion market today due to heavy unwinding from stockists and traders amid subdued offtake by jewellery makers at existing levels.
Silver also slumped on the back of speculative sell-off coupled with reduced industrial demand.
Standard gold of 99.5% purity slumped by
500 to conclude at
29,650 per 10 gm from last Saturday's closing level of
Pure gold of 99.9% purity also fell by
500 to end at
29,800 per 10 gm from
Silver ready (.999 fineness) tanked by
1,000 to finish at
50,200 per kg from
51,200 last weekend.
Globally, the yellow metal continued its slide in the midst of Fed tapering uncertainties and easing geopolitical tensions in Syria despite weak dollar.
Spot gold was bid lower at $1,317.61 an ounce in early European trade.
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