Gold price continues to fall, silver plunge

Gold prices witnessed its uninterrupted fifth-session fall at the bullion market here on Wednesday on heavy stockists and investors selling triggered by bearish global trend.

Silver also encountered hectic speculative offloading. In the International market, gold dropped on strong dollar after Federal Reserve released its policy statement were it held steady with no new market stimulus.

Standard gold of 99.5 per cent purity fell by Rs 240 to close at Rs 28,460 per 10 grams from Tuesday’s close of Rs 28,700.

Pure gold of 99.9 per cent purity also dipped by a similar margin of Rs 240 to finish at Rs 28,590 per 10 grams from Rs 28,830 previously.

Silver ready (.999 fineness) tanked by Rs 1060 to conclude at Rs 55,150 per kg from Rs 56,210 on Tuesday.

In New York, gold for February delivery slipped USD 5.10 to USD 1,663.10 an ounce on theComex division of the NYMEX late Tuesday.

While, March silver contract gained USD 26 cents to USD 31.26 an ounce. – PTI

Tags: price of silver, Silver, silver analysis, silver futures, silver futures prices, silver news, silver price, silver prices, silver spot, spot silver

Posted by Silver Guru on Dec 15 2011. Filed under Silver prices. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry