Gold tumbles Rs 225 on stockists selling

Gold prices on Friday tumbled by Rs 225 to Rs 30,820 per 10 gm here on heavy selling by stockists triggered by a weak global trend. Silver followed suit and dropped by Rs 230 to Rs 58,750 a kg on reduced offtake by industrial units and coin makers.

Selling gathered momentum as gold dropped in global markets before a report that may show US employers added more jobs last month, reducing the appeal of bullion as a haven, traders said. In Singapore, gold fell 0.2 per cent to $1,660.45 an ounce and silver 0.2 per cent to $31.40 an ounce.