Silver prices fell sharply at the domestic bullion market today on profit-taking by speculators and stockists following bearish overseas sentiment.
Pune gold moved down marginally due to lack of buying at current levels amid subdued jewellery demand, while standard gold finished stable.
Silver ready (0.999 fineness) tumbled by Rs 1,055 per kg to close at Rs 55,380 from last Saturday's closing level of Rs 56,435.
Pure gold (99.9 purity) softened by Rs 5 per 10 grams to settle at Rs 28,865 from Rs 28,870 last weekend.
Standard gold (99.5 purity) closed unchanged at Rs 28,730 per 10 grams.
On the global front, the yellow metal lost its safe haven tag and declined in line with other commodities as investors offloaded their gold holding on deepening worries over the euro zone debt crisis.
Spot gold was bid down at $1,701.09 an ounce and spot silver lower at $31.46 an ounce.
