TI:Gold slumps by Rs 500 to hit 1-month low at Rs 26,800
NEW DELHI: Rolling down gold prices dropped to one-month low by losing Rs 500 to Rs 26,800 per 10 grams in the national capital on Thursday on heavy selling by stockists driven by weak global trend.
This fall was in continuation to a steep fall of Rs 600 yesterday to hit a level last seen on April 17, after the metal tumbled in overseas markets driven by reports investors cutting their holdings.
Gold in Singapore, which normally sets the price trend on the domestic front, dropped by 0.4 per cent to $1,387.30 an ounce, the cheapest since April 19.
