Mumbai, Dec 7 (PTI) Gold fell for the second day today,plunging by Rs 225 per 10 grams at the bullion market, on theback of weak overseas cues and muted demand from localjewellers.
Silver followed suit and dropped below the crucial Rs37,000-mark by tumbling Rs 435 per kg on poor offtake byindustrial units.
Standard gold (99.5 purity) dropped by Rs 225 to concludeat Rs 28,760 per 10 grams from Wednesday's closing level of Rs28,985.
Pure gold (99.9 purity) also shed the same amount to endat Rs 28,910 per 10 grams as compared to Rs 29,135 earlier.
Silver (.999 fineness) slumped by Rs 435 to finish atRs 36,870 per kg from Rs 37,305 previously.
Globally, gold slid to its lowest in four months, as abounce in the dollar sparked by optimism over US tax reformplans pushed the metal out of its recent narrow trading range.
Spot gold was down 0.6 per cent at USD 1,255.85 an ouncein early trade.
Among other precious metals, silver was down 0.4 percent at USD 15.90 an ounce after earlier slipping to itslowest since mid-July at USD 15.82. PTI RDABM.
This is unedited, unformatted feed from the Press Trust of India wire.