Silver prices continued its falling trend at the Mumbai bullion market on persistent speculative selling onslaught driven by heavy unwinding in overseas market.
Gold also fell further on sustained profit-taking by stockists and investors amidst lower jewellery off take.
In Europe, silver fell to a three-week low and gold eased on selling pressure after its recent rally.
In domestic market, silver ready (.999 fineness) tanked by a massive Rs 4,815 per kg to conclude at Rs 62,515 from overnight closing level of Rs 67,330.
Standard gold (99.5 purity) dropped by Rs 105 per 10 grams to finish at Rs 22,250 from Tuesday's closing level of Rs 22,355.
Pure gold (99.9 purity) also dipped by Rs 120 per 10 grams to end at Rs 22,350 as against Rs 22,470 yesterday.
In Europe, spot silver was bid at $40.88 an ounce as compared to USD 41.64 in New York late on Tuesday.
Spot gold was bid at $1,534.60 an ounce as against $1,540.38.
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