Gold prices dropped further at the domestic bullion market on Friday due to reduced demand at current levels from jewellery makers as well as selling by investors amid lacklustre global cues.
Silver also plunged on the back of heavy speculative unwinding.
Standard gold of 99.5 per cent purity shed Rs 215 to finish at Rs 31,160 per 10 gm from Thursday’s closing level of Rs 31,375.
Pure gold of 99.9 per cent purity slumped by Rs 220 to conclude at Rs 31,310 per 10 gm from Rs 31,530.
Silver ready (.999 fineness) tanked by Rs 410 to end at Rs 52,000 per kg from Rs 52,410 yesterday.
Globally, the yellow metal traded slightly higher after weak jobless claims data in US eased fears over the recovery in labour sector and reduced concerns about the Federal Reserve tapering monetary stimulus in September.
Spot gold was up at $1,376.28 an ounce in early European trade.