New Delhi: Gold prices tumbled by Rs 1,150 to Rs 88,200 per 10 grams in the national capital on Thursday, tracking a bearish trend in global markets, according to the All India Sarafa Association.
Gold of 99.5 per cent purity also slumped by Rs 1,150 to Rs 87,800 per 10 grams from the previous close of Rs 88,950 per 10 grams.
Silver prices tanked by Rs 1,000 to Rs 98,500 per kg from the last close of Rs 99,500 per kg.
Bullion markets were closed on Wednesday for Mahashivratri.
Meanwhile, in futures trade on the Multi Commodity Exchange (MCX), gold contracts for April delivery declined Rs 554 to Rs 85,320 per 10 grams.
In the overseas markets, Comex gold futures for April delivery fell by $23.10 per ounce or 0.79 per cent to $2,907.50 per ounce.
Also, spot gold slipped below the $2,900-mark as the yellow metal prices declined to $2,892.95 per ounce.
Silver futures in the Asian market hours also quoted 0.34 per cent lower at $32.47 per ounce.