Silver tumbles on fresh selling as gold ends steady

Silver prices dropped sharply, snapping a three-session rising trend at the domestic bullion market today on a fresh bout of speculative selling amid lack of industrial buying support.
In contrast, gold held virtually steady due to investors' caution in the midst of hight volatile global commodity markets spooked by confusing policy signals from the US Federal Reserve.
Silver (.999 fineness) slumped by Rs 355 to finish at Rs 39,260 per kg as compared to Thursday's level of Rs 39,615.
However, standard gold (99.5 purity) and pure gold (99.9 purity) both concluded at their overnight level of Rs 26,960 and Rs 27,110 per 10 grams, respectively.

In international market, the shiny metal retreated marginally pressured by strong dollar, though dovish Fed comments as well as sluggish global growth outlook concerns remained supportive for the metal.
Spot gold was bid lower at USD 1,221.36 an ounce in early European trade.