Silver plunges Rs 6,000, gold drops Rs 1,000 on profit booking

Silver prices plunged by Rs 6,000 to Rs 2.56 lakh per kilogram in the national capital on Wednesday, while gold dropped by Rs 1,000 to Rs 1.60 lakh per 10 grams due to bearish domestic sentiment, according to the All India Sarafa Association.

The white metal declined by Rs 6,000, or 2.28 per cent, to Rs 2,56,500 per kg (inclusive of all taxes) from Tuesday’s closing level of Rs 2,62,500 per kg.

In the bullion market, gold of 99.9 per cent purity dipped by Rs 1,000, or 0.62 per cent, to Rs 1,60,300 per 10 grams (inclusive of all taxes). The yellow metal had closed at Rs 1,61,300 per 10 grams, up by Rs 1,050.