New Delhi, May 13: Silver prices plunged to register further losses on the bullion market here today on heavy selling by stockists while gold was down on reduced offtake amid new stocks arrival and closed notably lower. New Delhi, May 13: Silver prices plunged to register further losses on the bullion market here today on heavy selling by stockists while gold was down on reduced offtake amid new stocks arrival and closed notably lower. The bearish trend influenced the yellow metal, which witnessed reduced buying support in the absence of marriage and festival season even as new stocks' arrival continued. It lost Rs. 60 at Rs. 5660 per ten gram in continuation with the previous day's fall of Rs.10.
Gold prices quoted lower at USD 375.13 an ounce in overseas market against the last level of USD 379.25 and influenced the trading here.
The precious metals which remained steady in the last two trading sessions, toppled as players liquidated their long positions in the face of a strengthening US dollar. Standard gold and ornaments lost Rs. 60 each at Rs. 5660 and Rs. 5510 per ten gram respectively while sovereign held unchanged at rs.4900 per piece of eight gram.
Silver ready was down by rs.150 at rs.8850 per kilo and weekly-based delivery by rs.40 at rs.8760 per kilo. Silver coins were higher on fresh demand as buying price rose by Rs. 200 at Rs. 12,600 and selling at Rs. 12,800 for 100 pieces. Bureau Report