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Bullion mkt reopens after 16 days; gold tumbles 5% to Rs 1,750

Silver sheds almost 7% to Rs 41,600 a kg; jewellers shut since Nov 11 after I-T Dept carried out surveys, suspecting profiteering, tax evasion

Press Trust of India  |  New Delhi 

With bullion market reopening after 16 days today, gold prices witnessed a massive plunge of Rs 1,750 to Rs 29,400 per 10 grams in the national capital, while silver slumped by Rs 3,100 to Rs 41,600 per kg. Gold and jewellery establishments had been closed since November 11 after the Income Tax Department carried out surveys following reports of alleged profiteering and efforts at tax evasion in the wake of government's demonetisation of move. The survey operations were conducted on November 10 in at least four locations in Delhi-NCR region, including Dariba Kalan, Chandni Chowk ...

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First Published: Mon, November 28 2016. 14:02 IST