Premium
This is an archive article published on September 24, 2011

Gold,silver blinks on global meltdown

The global rout in precious metals continue to impact the domestic bullion market.

google-preferred-btn

The global rout in precious metals continue to impact the domestic bullion market,as gold encountered a further selling by investors and traders.

Silver saw aggressive profit-taking with another sharp slump amidst high amount speculative activity.

In International market,gold prices witnessed a big fall,losing more than 100 dollars in a single session with its worst sell-off since 2008 financial crisis.

Story continues below this ad

Turmoil in financial markets which triggered margin calls mainly forced investors to raise cash to offset their heavy losses,along with hedge funds that are liquidating heavily.

Standard gold (99.5 purity) slid by Rs 615 per 10 grams to close at Rs 26,860 from Friday’s closing level of Rs 27,475.

Pure gold (99.9 purity) dipped by Rs 600 per 10 grams to finish at Rs 26,985 from its yesterday’s close of Rs 27,585.

Silver ready (.999 fineness) tanked by a hefty Rs 2,600 per kilo to end at Rs 54,275 from Rs 56,875 previously.

Story continues below this ad

In New York,gold for December delivery lost USD 101.90 to settle at USD 1,639.80 an ounce on the Comex division of the NYMEX late yesterday.

Silver for December contract declined USD 6.48 to USD 30.10 an ounce.

Latest Comment
Post Comment
Read Comments
Advertisement
Express shorts
US-India
EAM Jaishankar and US Secretary of State Rubio hold bilateral discussions in New York
India50 min ago

Indian Foreign Minister Jaishankar and US Senator Rubio met in New York to discuss the 25% tariff on Indian oil imposed by Trump. This was their first in-person meeting since the Quad Foreign Ministers' Meeting. India and the US also began talks for a trade agreement, with positive discussions during a recent visit by US trade officials to India.

View all shorts
Live Blog

Photos

In pics: From concept supercars to electronic SUV's: Bharat Mobility Global Expo 2025 was all about innovation
In Pics: From Concept Supercars to Electric SUVs – Innovation at Bharat Mobility Global Expo 2025
Top Stories
supreme court
‘Time to decriminalise all this’: Supreme Court signals rethink on criminal defamation
airspace closure
BusinessIndia extends ban on Pakistan airlines for another month amid airspace row
Ranbir Kapoor’s vaping scene in The Ba**ds of Bollywood lands the show in trouble
EntertainmentNHRC demands action against Ranbir Kapoor, Netflix and Gauri Khan as actor seen vaping in Aryan Khan's The Ba***ds of Bollywood 
A tour of Riddhima Kapoor Sahni's Delhi home
EntertainmentInside Riddhima Kapoor’s lavish Delhi home that looks like a 7-star hotel: 'I have a room in Ranbir-Alia's new Mumbai home, mom Neetu has a floor'
Dr Samir Dalwai, a noted developmental and behavioural paediatrician, recently explained how AI is affecting children (Representative image/Pexels)
Trending'The worst is about to come': Noted paediatrician highlights dangers of AI for children
Reflecting on the experience, Fischer highlighted three things that stood out to her which are the hospital’s close proximity, the complete lack of wait time, and the incredibly low cost of care (Instagram source: @kristenfischer3/Instagram)
TrendingThumb injury treated at Rs 50, American woman hails affordability of Indian healthcare: ‘insurance premiums cost $1-2k per month in US'
In a broader perspective, they could be T20I cricket's most destructive opening pair, an irrepressible bond sculpted by friendship and familiarity. Like Langer and Hayden, or Frodo and Sam of JR Tolkein’s Lord of the Rings, or the Woodies in tennis, Flanagan and Allan in music. (AP Photo)
SportsHow Abhishek Sharma and Shubman Gill became T20I's most destructive opening pair
Indian cricketers Devdutt Padikkal, Sarfaraz Khan and Karun Nair. (Photo: X/BCCI & Reuters)
SportsIndia Test selection: Will Karun Nair retain his place, is Devdutt Padikkal preferred over Sarfaraz Khan for Tests against West Indies?
H-1B visa fee
OpinionWorries over H-1B visa fee hike speak of India’s larger problem
GST Bachat Utsav
ExplainedAs GST 2.0 kicks in: what changes for consumers and industry
climate change
'Net Zero cannot be our hero': Why climate activists question Net Zero 2050-70 carbon emissions goal and whether 'real zero' is possible as climate change continues to wreck havoc
Additionally, the AI-powered browser keeps track of what you have read, are working on, and are looking at to recommend relevant information.(Image: Perplexity)
TechnologyPerplexity’s Comet browser is now available in India for Windows and Mac users 
Advertisement
Must Read
SportsHow Abhishek Sharma and Shubman Gill became T20I's most destructive opening pair
In a broader perspective, they could be T20I cricket's most destructive opening pair, an irrepressible bond sculpted by friendship and familiarity. Like Langer and Hayden, or Frodo and Sam of JR Tolkein’s Lord of the Rings, or the Woodies in tennis, Flanagan and Allan in music. (AP Photo)
SportsIndia Test selection: Will Karun Nair retain his place, is Devdutt Padikkal preferred over Sarfaraz Khan for Tests against West Indies?
Indian cricketers Devdutt Padikkal, Sarfaraz Khan and Karun Nair. (Photo: X/BCCI & Reuters)
SportsRishabh Pant ruled out of India's Test series vs West Indies
Rishabh Pant returned home after the fourth Test against England. (AP Photo)
TechnologyPerplexity’s Comet browser is now available in India for Windows and Mac users 
Additionally, the AI-powered browser keeps track of what you have read, are working on, and are looking at to recommend relevant information.(Image: Perplexity)
TechnologyAs Trump raises H-1B fees, Amazon, Google, and Microsoft press employees to return to US
After midnight, holders with H-1B visas could not be permitted to return to the country unless they have paid $100,000. (Image: AP)
Trump’s $100,000 H-1B fee jolts India’s IT outsourcing model
After midnight, holders with H-1B visas could not be permitted to return to the country unless they have paid $100,000. (Image: AP)
'Net Zero cannot be our hero': Why climate activists question Net Zero 2050-70 carbon emissions goal and whether 'real zero' is possible as climate change continues to wreck havoc
climate change
Advertisement
Buzzing Now
Trending'The worst is about to come': Noted paediatrician highlights dangers of AI for children
Dr Samir Dalwai, a noted developmental and behavioural paediatrician, recently explained how AI is affecting children (Representative image/Pexels)
TrendingThumb injury treated at Rs 50, American woman hails affordability of Indian healthcare: ‘insurance premiums cost $1-2k per month in US'
Reflecting on the experience, Fischer highlighted three things that stood out to her which are the hospital’s close proximity, the complete lack of wait time, and the incredibly low cost of care (Instagram source: @kristenfischer3/Instagram)
Trending‘Should not promote labor culture’: Mattresses, pillows brought to Flipkart’s Bengaluru office ahead of Big Billion Days, video triggers debate
The Flipkart Big Billion Days 2025 will commence on September 23, offering discounts on electronics, tech, apparel, home and kitchen products, and more (Image source: @markertingwithsim/Instagram)
TrendingInd vs Pak: Indian fans tease Haris Rauf with Virat Kohli chants in Asia Cup 2025, video goes viral
India successfully chased down a target of 172 runs. Abhishek Sharma led the charge with 74 off just 39 deliveries, smashing six fours and five sixes (Image source: @vlp1994/X)
Trending‘Insane’: woman on holiday left behind in Rome after boyfriend rushes to US as Donald Trump hikes H-1B visa fee
Rish shared an Instagram reel describing the chaotic moment her boyfriend had to leave an Italian pasta-making class mid-session to catch a flight back to the United States (Image source: @lifeofrgr/Instagram)
Sep 22: Latest News
Advertisement