Gold prices tumbled by Rs 625 to Rs 31,100 per ten grams here today on
sluggish demand at prevailing higher levels along with a weak global trend.
Traders said slow-moving demand at prevailing
higher levels amid a weak global trend on thought US Federal Reserve policy makers
will reduce monthly debt purchases this month.
Silver held steady at Rs 54,300 per kg in spread buying from
industrial units and coin makers.
Gold in London,
fell 0.3% to USD 1,387.24 an ounce and silver by 0.3% to USD 23.78 an ounce.
On the domestic front, gold of 99.9 and 99.5%
purity tumbled by Rs 625 each to Rs 31,100 and Rs 30,900 per ten ten grams,
respectively. It had gained Rs 725 in the previous session.
Silver ready ruled steady at Rs 54,300 per kg
while weekly-based delivery shed Rs 35 at Rs 54,895 per kg. Silver coins
continued to be asked around previous level of Rs 88,000 for buying and Rs
89,000 for selling of 100 pieces.
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