Gold prices tumbled at the bullion market here today on hectic profit taking by stockists, amidst weakening trend at the overseas market.
Silver, also declined due to lack of demand from industrial users.
Standard gold (99.5 purity) dropped by Rs 205 per ten gram to end at Rs 18,290 from overnight closing level of Rs 18,495.
Pure gold (99.9 purity) also slipped by Rs 200 per ten gram to close at Rs 18,380 as against Rs 18,580 previously.
Silver ready (.999 fineness) fell by Rs 150 per kilo to finish at Rs 29,165 from Rs 29,315.
In Europe, gold eased today extending last session losses on recovery of dollar from six—week lows.
Spot gold was bid at USD 1,187.90 an ounce in early trade as against USD 1,191.50 late in New York on Tuesday.
US gold futures for August delivery down by USD 6.90 an ounce to USD 1,188.20.
Silver was bid at USD 17.62 an ounce as against USD 17.78.