Mumbai, June 14: Gold prices dropped at the bullion market here today on emergence of heavy selling by stockists and speculators at higher levels triggered by bearish global cues.
Silver also declined in the absence of demand from industrial users.
Standard gold (99.5 purity) slipped by Rs 125 per ten grams to close at Rs 18,615 from the last weekend’s closing level of Rs 18,740.
Pure gold (99.9 purity) also fell by a similar margin of Rs 125 per ten gram to finish at Rs 18,705 as against Rs 18,830.
Silver ready (.999 fineness) moved down by Rs 95 per kilo to end at Rs 29,665 from Rs 29,760 previously.
In New York, gold for August delivery fell by USD 1.60 to USD 1,228.60 an ounce in early trade on the COMEX division of the NYMEX.
–Agencies