New Delhi: Gold on Thursday recorded its steepest fall in over two months and lost Rs 800 to Rs 28,140 per 10 grams, on frantic selling by stockists on weak global trend and sluggish domestic demand.
Gold had plunged by Rs 835 on October 5. Traders said selling pressure gathered momentum, as the metal in overseas markets dipped below $1,600 an ounce on deepening euro-zone debt crisis and boosting the dollar. In addition, reduced offtake on the domestic front due to the end of the marriage season also weighed on the yellow metal's prices here.On similar lines, silver tumbled by Rs 3,200 to Rs 52,600 per kg, on fall in demand from industrial units and silver coin manufacturers. Gold in global markets, which normally sets the price trend on the domestic front here, tumbled by $54.40 to $1,576.50 an ounce and silver by 6.10% to $28.96 an ounce in New York last night. PTI
