Silver tumbles 4%, gold declines 1.2% on strong dollar

NEW DELHI: Precious metal prices declined up to 4% on Friday, with silver tumbling to Rs 2.7 lakh per kg and gold sliding to Rs 1.6 lakh per 10 grams amid a strong US dollar and uncertainty over global monetary policy.

According to the All India Sarafa Association, the white metal slumped by Rs 11,000, or 4%, to Rs 2,65,500 per kilogram from Thursday’s closing level of Rs 2,76,500 per kg. In the bullion market, gold of 99.9% purity also declined by Rs 2,000, or 1.2%, to Rs 1,63,200 per 10 grams. The yellow metal finished at Rs 1,65,200 per 10 grams in the previous session. In the international market, spot silver was trading nearly 1% lower at $83.1 per ounce, while gold went up marginally to $5,088 per ounce.



Gold fell about 2.1% this week after giving up gains last week, too.

Ready to Make a Smarter Property Decision? Build Your Legacy with TOI Homes.