Silver prices plunged from overnight record highs at the domestic bullion market amid heavy profit-taking by speculators and overseas cues. The white metal which had spiked to Rs 75,000 a kilo in yesterday's trading on heavy speculative activity could not sustain the peak level and attracted heavy profit-booking. Gold also declined further in the absence of buying interest at the higher levels. In Europe,silver and gold tumbled today as investors cashing in on high levels took to selling in a big way. Silver ready (.999 fineness) tanked by a hefty Rs 5,150 per kg to close at Rs 69,870 from Monday's closing level of Rs 75,020. Standard gold (99.5 purity) dropped by Rs 195 per 10 grams to end at Rs 21,800 from Rs 21,995 in the previous session. Pure gold (99.9 purity) dipped by Rs 205 per 10 grams to Rs 21,900 as compared to Rs 22,105 yesterday. Spot gold was bid at USD 1,504.61 an ounce in early trade as against USD 1,508.45 late in New York on Monday. Spot silver was bid at USD 45.92 an ounce from USD 46.90.
