Gold prices tumbled at the bullion market here today on emergence of heavy selling by stockists and speculators sparked by a steep fall in overseas markets.
Silver also plunged due to hectic offloadings by stockists and traders.
Standard gold (99.5 purity) dropped by Rs 185 per ten grams to close at Rs 16,575 from Friday's closing level of Rs 16,760.
Pure gold (99.9 purity) also fell by a similar margin of Rs 185 per ten grams to finish at Rs 16,660 as against Rs 16,845 yesterday.
Silver ready (.999 fineness) slumped by Rs 655 per kilo to conclude at Rs 27,695 from Rs 28,350 previously.
In New York, gold futures for June delivery declined by $23.40 to end at $1,136.90 an ounce on the Comex division of the NYMEX.
Silver for May delivery also lost by 76 cents to $17.67 an ounce.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app