Quick view : Gold, silver fall on weak global cues

Updated: May 31 2012, 09:12am hrs
Gold, silver fall on weak global cues

Both the precious metals, gold and silver tumbled on Wednesday on heavy selling by stockists, triggered a weak trend in overseas markets. While gold dropped by R180 to R29,470 per 10 gm, silver lost R850 to R53,900 per kg on poor demand at prevailing higher levels, driven by weak global trend. Gold in global markets declined by 0.6% to a one-week low of $1,545.88 an ounce and silver by 1% to $27.57 an ounce in Singapore.