Mumbai: Gold for December delivery slipped to USD 1,216.60 an ounce against last weekend level of USD 1,231.50 on the comex division of the NYMEX.
Silver for December contract also declined to USD 17.78 an ounce compared to USD 18.55 previously. On the domestic front, standard gold (99.5 purity) commenced better at Rs 26,945 and gained further to Rs 26,990 before falling back sharply to conclude at Rs 26,500 against preceding week's closing level of Rs 26,915, disclosing a sharp loss of Rs 415, or 1.54 per cent per 10 grams.
Pure gold (99.9 purity) also started firmly higher at Rs 27,095 and gained further to Rs 27,140 before tumbling to end at Rs 26,650 as compared to last weekend closing level of Rs 27,065, registering a steep fall of Rs 415, or 1.53 per cent per 10 grams. Silver ready (.999 fineness) resumed virtually flat at Rs 41,705 but later plummeted sharply to finish at Rs 40,510 over last Saturday's level Rs 41,705 disclosing a massive loss of Rs 1,195, or 2.87 per cent per kg.
