Gold plunged across the world on Friday, hitting levels not seen since 2010, as the dollar surged in the wake of a surprise stimulus move from the Bank of Japan.

In Mumbai, the bullion hub of the country, standard gold (99.5 purity) plummeted by Rs 620 to end at Rs 25,960 per 10 grams against Thursdays closing level of Rs 26,580.

Silver (.999 fineness) nosedived by a whopping Rs 1,300 to end at Rs 37,035 per kg.

In overseas markets, spot gold slid over 2 per cent to $1,168.66 an ounce - its lowest since July 2010. Gold for December delivery slumped $36.80, or 3 per cent, to $1,162.60 an ounce. December silver gave up 57 cents to $15.84 an ounce.