NEW DELHI: Gold prices plunged by 250 to 27,050 per 10 grams at the bullion market on 3rd March amid a weak trend overseas and low demand from jewellers.

In line with overall trends, silver also dropped by Rs 600 to Rs 37,000 per kg.

Gold in Singapore, which normally determines price trend on the domestic front, lost 0.9 per cent to $1,195.50 an ounce, the lowest price since February 24.

Traders said besides fall in demand from jewellers and retailers at existing levels, a weak trend overseas where it slipped to one-week low after the dollar climbed to over 10-year high on strong economic data, dampened the sentiments here.

In the national capital, gold of 99.9 and 99.5 per cent purity plunged by 250 each to 27,050 and 26,850 per 10 grams, respectively.

It had gained Rs 300 in last two trades. Sovereign, however, remained flat at 23,700 per piece of eight grams.

Silver ready also dropped by 600 to 37,000 per kg and weekly-based delivery by 385 to 36,700 per kg.

Silver coins plummeted by 1,000 to 59,000 for buying and 60,000 for selling of 100 pieces, mostly in tune with fall in silver prices.

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