Silver prices dropped further at the domestic bullion market here today on sustained unwinding from stockists and speculators, amid bearish overseas trend. On the other hand, standard gold moved up on mild local buying interest at existing lower levels.
Silver ready (.999 fineness) fell sharply by a hefty Rs 1,085 per kg to end at Rs 53,750 from last Saturday's closing level of Rs 54,835.
However, standard gold (99.5 purity) looked up by Rs 10 per 10 grams to settled at Rs 21,945 as compared to Rs 21,935 last weekend, while pure gold (99.9 purity) held steady at Rs 22,045 per 10 grams.
In Europe, spot gold was trading almost flat at $1,490 an ounce on deepening concerns about the euro zone debt crisis and strengthening dollar against major currencies.
Silver was bid at $34 an ounce.
