Tokyo, April 27 Silver futures on Tocom plunged to its lower limit on Friday's trade as long liquidation engulfed precious metals space after gold on Comex witnessed its lowest level in two weeks. This was also ahead of the golden week holidays in Japan next week when markets will be shut on Monday, Thursday and Friday. Gold last traded weaker in the range of 33 to 36 yens, while silver futures were quoted weaker by 14.5 to 18 yens.

The dollar-based gold market's inability to breach $700 has also disappointed players, who are opting to sell in profit taking, The market is unlikely to break out of its loose trading range until Golden Week ends, traders say.

Benchmark February-2008 silver contract opened weaker by 15 yens at 512.7 yens/10 gm and moved in the range of 509.7-513. The contract last traded weaker by 16.2 yen to be at 511.5 yen/10 gm. Near month June contract opened weaker by 12 yens at 513 yen/10 gm . Volumes traded were 2,656 lots.

Benchmark gold April-08 contract opened weaker by 31 yens at 2,619 yen/gm and oscillated in the range of 2607-2620. The contract last traded weaker by 36 yens at 2,614 yens/gm. While the spot June-07 month opened weaker by 30 yens at 2,594 yen/gm and moved in the range of 2584-2596. Total volumes traded were at 49,163 lots.

In the spot markets in Tokyo, the bid and ask for gold was 2,682 - 2,744 yen/gm, while for silver, the bid and ask was at 53,030 yen/kg and 57,010 yen/kg. [All retail price include consumption tax]