Mumbai, Nov 10: Gold encountered modest profit-taking after its overnight all-time peak at the domestic bullion market here today on stray selling by investors following bearish overseas cues.
Silver witnessed heavy offloading from speculators amid mute industrial offtake.
“Globally speaking, the yellow metal slumped over eurozone's uncertainty, but the domestic bullion withstood the fall due to ongoing marriage season,” traders said.
In New York, gold lost nearly 2 per cent on deepening worries over stability of Italy and eurozone led to a sharp fall in equities and commodities forcing investors to offload gold to cover losses.
Standard gold (99.5 purity) eased by Rs 60 per 10 grams to finish at Rs 28,765 from Wednesday's close of Rs 28,825.
Pure gold (99.9 purity) also moved down by a similar margin to close at Rs 28,900 per 10 grams compared to Rs 28,960 yesterday.
Silver ready (.999 fineness) plunged by Rs 1,245 per kg to end at Rs 56,880 from Rs 58,125 yesterday.
In New York, gold's December delivery slid by USD 1,757.20 an ounce at Comex division of the NYMEX. Silver for December contract also slumped to USD 33.40 an ounce.
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