Gold Drops Rs 250; Silver Surges Rs 2,000

New Delhi: Gold prices declined Rs250 to Rs74,350 per 10 grams in the national capital on Thursday, while silver rates surged to reclaim the 87,000 level, according to All India Sarafa Association. On Wednesday, the precious metal or pure gold (99.9 per cent purity) ended at Rs74,600 per 10 grams. However, silver price rallied Rs2,000 to touch a two-week high of Rs87,000 per kilogram on Thursday. The silver metal had finished at Rs85,000 per kg in the previous session. In the past three sessions, the withe metal has surged Rs3,200 per kg. Meanwhile, gold of 99.5 per cent purity also declined by Rs250 to Rs74,000 per 10 grams from the previous close of Rs74,250 per 10 grams. Traders said the silver continued its strong trend for the third-straight session owing to strong industrial offtake leading to a jump in the prices of the metal. In the international markets, Comex gold was trading 0.21 per cent higher at $2,547.70 per ounce. Silver also quoted higher at $29.16 per ounce in the global markets.