January 28, 2011 7:10 PM

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Gold slips below rupees twenty thousand

Gold dropped 360 rupees, to 19,960 rupees per ten grams at Delhi's bullion market, on Friday, on brisk selling by stockists, in line with a weak global trend. This is the first time in nearly three months that gold has slipped below the 20,000 rupee per ten gram level. Silver tumbled 950 rupees, to 41,700 rupees per kilo. In the global markets, gold fell 0.4 per cent, to 1,308 dollars an ounce–its lowest level in four months, as hopes for global economic recovery eroded demand for safe haven investments.Silver declined 1.9 per cent, to 26.40 dollars an ounce.

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