Gold, Silver Slide On Profit-Taking

Mumbai, Dec 22: Gold prices declined after a two-session surge at the bullion market here today on emergence of profit-taking by stockists and investors amid lower jewellery demand following weak overseas sentiment.Silver also encountered heavy
gold silver slide on profit taking - India TV
PTI 22 Dec 2011, 18:54:30 PM IST

Mumbai, Dec 22: Gold prices declined after a two-session surge at the bullion market here today on emergence of profit-taking by stockists and investors amid lower jewellery demand following weak overseas sentiment.

Silver also encountered heavy unwinding from speculators on the back of subdued industrial buying and ended lower.

Standard gold of 99.5 per cent purity dropped by Rs 205 to conclude at Rs 27,515 per 10 grams from Wednesday's close of Rs 27,720.

Pure gold of 99.9 per cent purity fell by Rs 200 to end at Rs 27,650 per 10 grams from Rs 27,850.

Silver ready (.999 fineness) slumped by Rs 725 to finish at Rs 52,475 per kg as against Rs 53,200 yesterday.

In New York, gold prices edged lower on rising dollar aimdst renewed concerns over eurozone's debt crisis.  Gold for February delivery eased USD 4 to USD 1,613.60 an ounce on the Comex division of the NYMEX late yesterday.

March silver contract lower 29 cents to USD 29.25 an ounce.

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