Gold, Silver Drops On Profit-Selling

Mumbai, Jan 24: Gold and silver dropped at the bullion market here today as investors and speculators resorted to profit-taking amidst subdued jewellery off take following bearish European cues.Standard gold of 99.5 per cent purity
gold silver drops on profit selling - India TV
PTI 24 Jan 2012, 07:00 PM IST

Mumbai, Jan 24: Gold and silver dropped at the bullion market here today as investors and speculators resorted to profit-taking amidst subdued jewellery off take following bearish European cues.

Standard gold of 99.5 per cent purity slipped by Rs 105 to end at Rs 27,405 per 10 grams from Monday's closing level of Rs 27,510.

Pure gold of 99.9 per cent purity also slid by a similar margin of Rs 105 to close at Rs 27,535 per 10 grams from Rs 27,640 yesterday.

Silver ready (.999 fineness) dipped by Rs 500 per kg to conclude at Rs 55,030 from Rs 55,530 previously.

In London, gold retreated from a six week high amidst weakness in euro as talks between euro zone finance ministers and private creditors over restructuring of Greece's debt broke down.

Spot gold was bid down at USD 1,670.00 an ounce in early trade. While silver was bid lower at USD 32.16 an ounce.

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