Trading sentiments turned weak after gold in global markets dropped by $21.90 to $707.80 an ounce, the lowest level this month as a rally in the dollar eroded the appeal of the precious metals and other commodities. Meanwhile, silver traded 0.50 cent down at $9.29 an ounce in New York.
In the domestic market, gold prices tumbled by Rs 150 to close at Rs 11,850 per 10 gm in the bullion market in the national capital largely in tandem with weakening global market. Silver prices, too, dropped by Rs 275 at Rs 16,600 a kg amid reduced off-take by consuming industries and speculators.
