Gold slips on profit-taking, silver extends plunge
The industrial metal also slumped further on consistent unwinding from speculators coupled with subdued industrial off-take.
Standard gold (99.5 purity) fell by Rs 70 per 10 gm to finish at Rs 31,130 from overnight closing level of Rs 31,200.
Pure gold (99.9 purity) moved down by Rs 65 per 10 gm to end at Rs 31,275 from Rs 31,340.
Silver ready (.999 fineness) tumbled by Rs 420 per kg to close at Rs 60,510 as against Rs 60,930 yesterday.
On the global front, gold witnessed heavy sell-off in US trading on concerns over sluggish economic data as well as corporate earnings amid strong dollar valuations.
Gold for December delivery lost by USD 20.70 to settle at USD 1,724 an ounce (around 28 gm) on the Comex division of the NYMEX late yesterday.
Silver for Decemer contract shed 77 cents to close at USD 32.10 an ounce.