A divergent trend developed in the bullion market on Thursday as silver plunged by Rs 1,500 to Rs 56,000 per kg on selling by stockists and gold recovered by Rs 120 to Rs 22,820 per 10 grams.
Gold gained on fresh buying by retailers for the ongoing marriage season and wiped off most of the previous day''s losses.
Silver coins followed suit and nose-dived by Rs 4,500 to Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.
A similar trend overseas further fueled the trading sentiment in the national capital. While gold rose by USD 4.80 to USD 1,539.10 an ounce and silver plunged by 4.29 per cent to USD 36.82 an ounce in New York.
On the domestic front, silver ready tumbled further by Rs 1,500 to Rs 56,000 per kg. It had lost Rs 800 on Wednesday
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