Gold, silver prices drop Rs 1,000

New Delhi: Gold prices retreated from record highs by plunging Rs 1,000 to Rs 1,06,070 per 10 grams in the national capital, as traders booked profits in tandem with a weak trend in global markets. The precious metal of 99.9 per cent purity had settled at Rs 1,07,070 per 10 grams, its all-time high level on Wednesday.

Gold of 99.5 per cent purity also witnessed a pullback, depreciating Rs 1,000 to Rs 1,05,200 per 10 grams. It had closed at Rs 1,06,200 per 10 grams in the previous market session, according to the All India Sarafa Association.

Silver too slipped from its record levels as investors booked profits at higher levels. The white metal fell Rs 1,25,600 per kilogram. In the previous session, it had ended at its lifetime high of Rs 1,26,100 per kg. In the overseas market, spot gold prices also corrected after scaling historic highs.

Spot silver was trading 0.70 per cent lower at $40.93 per ounce. The precious metal dropped $39.61, or 1.10 per cent, to $3,539.14 per ounce. On Wednesday, it had touched an all-time high of $3,578.80 per ounce in New York.