Gold declines on weak overseas cues, silver rebounds

摘要

The prices of gold plunged at the domestic bullion market on Friday (Nov 11) on sustained profit-taking by stockists and investors as well as lower jewellery demand, following sluggish global cues. While, silver recovered modestly from its earlier steep fall on the back of fresh low level speculative buying. On Friday the standard gold (99.5 purity) dipped by Rs 150 per 10 grams to finish at Rs 28,615 from Thursday's (Nov 10) close of Rs 28,765. Pure gold (99.9 purity) also declined by Rs 145 per 10 grams to end at Rs 28,755 from Rs 28,900 earlier. However, silver ready (.999 fineness) spurted by Rs 425 per kg to conclude at Rs 57,305 as compared to Rs. 56,880 on Thursday.