Gold and silver drop on reduced offtake and global cues
Mumbai-India (Mar 3) Cutting short two-day gains, gold and silver dropped at the bullion market here following reduced stockist offtake and speculative selling driven by lower international market.
Prices of standard gold (99.5 purity) fell by Rs 180 to end at Rs 26,580 per 10 grams from Monday's closing level of Rs 26,760.
Pure gold (99.9 purity) also dipped by a similar margin to finish at Rs 26,730 per 10 grams as against Rs 26,910 previously.
Silver also slumped by Rs 650 to end at Rs 37,290 per kg.