Gold tanks to 10-month low as RBI eases import curbs

Mumbai, May 22: Gold prices tumbled to 10-month low and closed below the key Rs 28,000 per 10 gram mark at the bullion market here today following frantic unwinding after the RBI eased curbs on import of the yellow metal.

In contrast, silver gained further ground on stray demand from consuming industries.

Standard gold (99.5 purity) tanked by a staggering Rs 780 to finish at Rs 27,690 per 10 grams from Wednesday’s closing level of Rs 28,470.