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Journalism of Courage
Silver and Gold rates fell further at the bullion market on Wednesday on sustained profit-taking following declining trend in the overseas market.
“Gold prices tumbled in global market due to economic worries amidst stimulus uncertainty in US,forcing local traders to book profits,” a trader said.
Standard gold (99.5 purity) dropped by Rs 295 per 10 grams to finish at Rs 27,510 from Tuesday’s closing level of Rs 27,805. Pure gold (99.9 purity) also slid Rs 300 per 10 grams to Rs 27,630,compared to Rs 27,930 yesterday. Silver ready (.999 fineness) plummeted by Rs 955 per kilo to end at Rs 64,330 from Rs 65,285 previously.
In New York,gold for December delivery plunged $30.60 to end at $1,861.30 an ounce on the Comex division of the NYMEX yesterday. September silver retreated $1.03 to $42.29 an ounce.
