New Delhi, Oct 8: Both the precious metals, gold and silver, fell on the bullion market today on profit-selling by stockists, amid a weak trend in overseas markets.
While gold dropped by Rs 250 to Rs 26,660 per 10 grams, silver lost Rs 1,200 to Rs 53,000 per kg on reduced off take at existing higher levels.
Selling pressure gathered momentum after gold declined in New York, as investors sold the metal to cover losses in other assets.
Gold in New York, which normally sets price trend on the domestic front, slumped by 17.40 dollar to 1,635.80 dollar an ounce and silver by 3.2 per cent to 30.99 dollar an ounce. In addition, sluggish demand at existing higher levels also influenced the trading sentiment.
From: http://ping.fm/1Q7GO
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