NEW DELHI: Gold and silver prices tumbled in the national capital today on heavy selling by stockists sparked by global meltdown amid sluggish domestic demand at existing higher levels. While gold tumbled by Rs 500 to Rs 31,200 per 10 gm, silver dropped by Rs 1,300 to Rs 60,000 per kg. Traders said selling pressure gathered momentum after gold dropped to the lowest in more than three months in global markets as signs that US lawmakers may be closer to a budget deal boosted equities and reduced demand for the metal as an alternative asset.

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