Gold remains lacklustre on poor buying amid overseas concerns

Written by PTI | Mumbai | Updated: Sep 5 2014, 04:28am hrs
Gold prices drifted for the fifth straight session at the domestic bullion market here today due to lack of buying interest from stockists and investors' in the face of global uncertainity.

Silver also moved down owing to reduced industrial offtake.

Standard gold (99.5 purity) eased by Rs 25 to settle at Rs 27,415 per 10 grams as compared to overnight closing level of Rs 27,440.

Pure gold (99.9 purity) also down by a similar margin to end at Rs 27,565 per 10 grams from Rs 27,590.

Silver (.999 fineness) fell by Rs 60 to finish at Rs 42,590 per kilo against Rs 42,650 yesterday.

Globally, the yellow-metal rebounded modestly from its multi-month low on bargain hunting and short-covering ahead of European Central Bank monetary decision.

Spot gold was firmly higher at USD 1,272.56 an ounce in early European trade.