Gold extends down-slide on weak demand; silver regains

Written by PTI | Mumbai | Updated: Jun 27 2014, 00:27am hrs
Gold prices drifted further at the domestic bullion market here today due to low offtake from stockists and retailers amid lack of local buying support.

Silver however recovered modestly due to better enquiries from jewellery makers and a good industrial demand.

Standard gold (99.5 purity) slipped by Rs 60 to end at Rs 28,095 per 10 grams as compared to Wednesday's Rs 28,155.

Pure gold (99.9 purity) also fell by Rs 65 to conclude at Rs 28,240 per 10 grams from Rs 28,305.

Silver (.999 fineness), however moved up by Rs 80 per kg to finish at Rs 45,100 per kg against Rs 45,020 yesterday.

Globally, the shiny metal edged lower despite a worse- than-expected first quarter contraction in the US economy amid investors' caution ahead of key macro data later in the day.

Spot gold was bid soft at USD 1,316.60 an ounce in early European trade.