Yellow-metal dives to 1-1/2 mth low on demand slump

Extending its descending streaks for the fourth straight session, gold plummeted sharply to a 1-1/2 month low and closed below the psychologically important Rs 26,000-mark at the domestic bullion market here.
Subdued demand from jewellery stockists and retailers as well as lack of local buying interest at current levels largely dominated trading activity.
Weak international markets also kept the bearish sentiment intact.
Elsewhere, silver also plunged below the Rs 35,000 level on heavy speculative unwiding.
Standard gold (99.5 purity) dropped by Rs 220 to finish at Rs 25,780 per 10 grams from Wednesday's close of Rs 26,000.
Pure gold (99.9 purity) also shed by a similar margin to end at Rs 25,930 per 10 grams compared to Rs 26,150 earlier.

Silver (.999 fineness) slipped by Rs 240 to conclude at Rs 34,925 per kg from Rs 35,165 yesterday.
In worldwide trade, the shiny-metal fell to a fresh two-week low after strong US private-sector jobs data bolstered views that the Federal Reserve will hike rates this year.
Spot was lower at USD 1,114.00 an ounce in early European trade while, silver was soft at USD 14.48 an ounce.