Mumbai, October 08: Breaking its uninterrupted three-day record breaking journey, gold and silver prices plunged at the bullion market here today on emergence of heavy unwinding by stockists and speculators.
Standard gold tumbled by Rs 325 per 10 grams and silver plummeted by a whopping Rs 1,130 per kilo.
The sudden bout of frantic sell-off in the domestic market was mainly attributed to aggressive profit-taking by speculators and stockists after the recent sharp surge, fearing the metals may undergo a meaningful correction in the international markets, which is the main trend setter for any kind of direction here, traders said.
The magnitude of fall in the white metal, silver is quiet alarming at this juncture as it had steeply moved up in the recent days, they added.
Standard gold (99.
–Agencies