Gold short-lived its overnight short covering gains and
dropped at the domestic bullion market here today on stockists selling driven
by massive unwinding at the global level.
Silver also slid owing to hectic speculative selling and
lower industrial offtake.
Standard gold (99.5 purity) fell by Rs 415 to end at Rs
27,290 per 10 grams from Friday's closing level of Rs 27,705.
Pure gold (99.9 purity) also dipped by a similar margin of
Rs 415 to finish at Rs 27,440 per ..
Silver (.999 fineness) slid by Rs 790 to conclude at Rs
38,050 per kg as against Rs 38,840 yesterday.
In New York, gold sank to settle at the lowest level
following stronger than expected US jobs report led the dollar to rise, drawing
the attention away from the safe haven metal.
In New York, gold for April delivery shed $28.10 to settle
at $1,234.60 an ounce, while March silver lost 50 cents, to end at USD 16.694
an ounce.
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