Gold,Silver prices drop Drastically

Delhi Oct 27: The Gold and silver prices have reduced drastically today.Currently, the gold prices have reduced by Rs 275 for 10-gram gold.The price of 10-gram gold 24 carat in Delhi today stood at Rs 30,275.

Bullion people have said that International factors and low demand from local traders have resulted in the reduction of prices drastically.

Silver too followed a similar trend of Yellow metal.The prices of silver has reduced by Rs 525 and the cost dropped below 40,000.Currently, the price of 1 Kg silver in the national capital is Rs 39,925.

Traders said that the main reasons for the drop in silver prices are low demand from Industry and coin manufacturers.

Internationally the gold price reduced by 0.04 % and an ounce of gold stood at $1265.70.