Gold,silver drops on profit-selling,global cues

Spot gold was quoted at $1,807.19 an ounce in early trade,while silver was trading at $40.26 an ounce.

Gold and silver rates slid further at the domestic bullion market here today on hectic profit-selling by investor and speculators on the back of declining global trend.

Standard gold price (99.5 purity) fell by Rs 290 per 10 grams to end at Rs 27,835 from its overnight closing level of Rs 28,125.

Pure gold (99.9 purity) also dipped by Rs 305 per 10 grams to conclude at Rs 27,960 from Rs 28,265. Silver ready (.999 fineness) slumped by Rs 545 per kilo to finish at Rs 64,060 as against Rs 64,605 yesterday. At the international market,gold tumbled amidst high volatile trade following positive dollar momentum against basket currencies as well as investors selling to cover-up their losses in equities.

In Europe,Spot gold was quoted at $1,807.19 an ounce in early trade,while silver was trading at $40.26 an ounce.

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Gold prices

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