Gold tumbles to 4-mth low on continued selling

Gold prices tumbled to its lowest level in four-months at the bullion market here today on the back of sustained unwinding by stockists and investors in the midst of heightened global volatility.
Silver also dropped further to closed below the key significant Rs 36,000 mark due to heavy speculative unwinding.
Standard gold (99.5 purity) dropped by Rs 105 to end at Rs 25,600 per 10 grams from Tuesday's closing level of Rs 25,705.
Pure gold (99.9 purity) also slipped by a similar margin finish at Rs 25,750 per 10 grams compared to Rs 25,855.
Silver (.999 fineness) declined by Rs 110 to conclude at Rs 35,930 per kg from Rs 36,040 yesterday.

On the global front, the shiny-metal traded almost flat as investors remained cautious ahead of the much-awaited Federal Open Market Committee meet outcome later in the day amid expectations for a mid-year hike in US interest rates.
Spot gold was little changed at USD 1147.80 an ounce in early European trade.