Gold, silver tumble on reduced offtake, weak global cues

While gold suffered a steep fall of Rs 280 to Rs 31,220 per 10 grams, silver plunged by Rs 750 to Rs 59,500 per kg on reduced offtake by stockists and industrial units.

Traders said sentiment turned bearish after gold weakened in global markets as reports on US employment, manufacturing and consumer confidence signalled improvement in the world