Gold suffers biggest fall at open, silver follows suit

In Asia, the metal tumbled about USD 124, followed by over USD 100 in the previous session, as equities and other commodities fell on speculation that European governments will struggle to contain the euro zone`s debt crisis, threatening global growth.

In Singapore, gold tumbled 124 dollar to USD 1,532.72 an ounce and silver by 9.70 per cent to USD 26.07 an ounce.

Back home, silver dropped by Rs 3,200 to Rs 50,800 per kg as the metal in overseas markets recorded its worst two-day drop in 31 years. Silver in Delhi had lost Rs 10,500 in last two sessions.