Gold, silver slide on profit-taking, weak global cues

Gold, silver slide on profit-taking, weak global cues

Mumbai : India | Jun 22, 2012 at 11:29 PM PDT
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Crude gold price hit record high on global cues

Gold prices slid further at the bullion market here today on heavy profit taking from stockists and investors amidst weak trend in global markets, where precious metals posted their biggest-ever single day drop.

Silver also tumbled on hectic speculative selling in the absence of industrial demand as the precious metals continued their losing spree for the third straight day.

Standard gold (99.5 purity) declined Rs 125 to end at Rs 29,940 per 10 grams from Thursday's closing level of Rs 30,065.

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The precious metal hit $1,814.50-$1,815.50 in early trade
The precious metal hit $1,814.50-$1,815.50 in early trade
sanjeevverma89 is based in Abohar, Punjab, India, and is a Stringer on Allvoices.
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