Gold,silver slide further on global cues

Gold of 99.9% purity dipped by a margin of Rs 165 to finish at Rs 27,370 per 10 gms from Rs 27,535.

Written by Agencies | Mumbai | Published: January 25, 2012 7:18:39 pm

Gold and silver slid further at the bullion market here today on sustained selling by stockists and speculators amid lack of local buying support on the back of lower overseas cues. Standard gold of 99.5 per cent purity declined by Rs 165 to close at Rs 27,240 per 10 grams from Tuesday’s closing level of Rs 27,405.

Pure gold of 99.9 per cent purity also dipped by a similar margin of Rs 165 to finish at Rs 27,370 per 10 grams from Rs 27,535 previously.

Silver ready (0.999 fineness) slumped by Rs 490 per kg to end at Rs 54,540 from Rs 55,030 yesterday.

In New York,gold dropped on strengthening dollar amidst failed talks over Greece debt-swap plan.

Gold for February delivery fell 13.80 to $1,664.50 an ounce on the Comex division of the NYMEX late yesterday.

March silver contract were down 30 cents to $31.98 an ounce.

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