New Delhi: Gold and silver prices slumped in the national capital on Friday, with the precious metal plummeting to below the Rs 80,000-mark due to heavy selling by jewellers and stockists, according to the All India Sarafa Association.
Besides, a weak trend in the international markets weighed down heavily on the bullion prices, traders said.
The precious metal of 99.9 per cent purity dived Rs 1,400 to Rs 79,500 per 10 grams.
It had finished at Rs 80,900 per 10 grams in the previous session.
Silver plummeted Rs 4,200 to Rs 92,800 per kg, marking the single biggest fall in the month of December. On Thursday, the white metal ended at Rs 97,000 per kg in the previous trading session.
The price of gold of 99.5 per cent purity also declined Rs 1,400 to Rs 79,100 per 10 grams from the previous close of Rs 80,500 per 10 grams.
Comex gold futures dipped $18.60 per ounce, or 0.69 per cent, to $2,690.80 per ounce.
Silver traded 1.42 per cent lower at $31.17 per ounce.