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Gold drops on subdued demand, silver also slips

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Press Trust of India Mumbai

Silver, on the other hand, ended almost flat in a lacklustre trade.

Standard gold (99.5 purity) fell by Rs 350 to end at Rs 31,170 per 10 gm from Wednesday's closing level of Rs 31,520.

Pure gold (99.9 purity) dipped by Rs 370 to finish at Rs 31,290 per 10 gm from Rs 31,660.

Silver ready (.999 fineness) eased by Rs 15 per kg to close at Rs 61,620 as against Rs 61,635 previously.

In New York, gold ended at two-week low on strong dollar amid renewed worries over eurozone.

Gold for December delivery slid USD 12.80 to USD 1,753.60 an ounce on the Comex division of the NYMEX late yesterday.

 

Silver for December contract lost 1 cent to USD 33.94 an ounce.

  

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First Published: Sep 27 2012 | 6:35 PM IST

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