Gold price falls below Rs.27,000 level

Gold price dipped Tuesday below Rs.27,000 level for 10 grams for the first time in almost two years on continued weakness in global markets.

The yellow metal has become cheaper by almost 20 percent since the beginning of this year.

Gold price dropped by more than two percent to Rs.26,440 per 10 grams in the national capital. The price has dropped sharply for the third consecutive trading day. In the last three sessions gold price has dropped by Rs.3,160 per 10 grams.

The prices dropped sharply in the international markets also. In New York, gold slumped to $1,360 an ounce.

Gold price has come down 28 percent from the record high of $1,920.30 an ounce hit in September 2011.

Silver was also under pressure. Silver price dipped to Rs.46,125 per kg. Silver has become cheaper by Rs.6,475 per kg in the last three trading sessions.
Photo  : AFP