Mumbai, Oct. 23: Gold and silver tumbled further on the bullion market here on Thursday on heavy stockists offerings on the back of weak global cues.
Gold dropped further for the third consecutive day on persistent selling presssure from stockists in view of further fall in world market.
Silver also dropped on lack of industrial demand.
In the local market, standard gold (99.5 purity) fell further by Rs 515 per ten grams to end at Rs 11,640 from the yesterday’s closing level of Rs 12,155.
Silver ready (.999 fineness) also dropped by Rs 445 per kilo to finish at Rs 17,535 from Rs 17,980.
Gold prices extended a six per cent decline in New York to hit its 13 months low after sell-off in equities drove investors to sell bullion to pay losses. — PTI
