Gold, silver extend fall on subdued demand, weak global cues
Mumbai: Gold prices extended losses at the bullion market here today on sustained selling by investors and traders amid sluggish demand as well as weak global cues.
Silver also dropped on speculative sell-off.
Standard gold of 99.5 per cent purity dropped by Rs 80 to conclude at Rs 26,190 per 10 gm from Thursday's closing level of Rs 26,270.
Pure gold of 99.9 per cent purity also dipped by a similar margin to end at Rs 26,330 per 10 gm from Rs 26,410.
Silver ready (.999 fineness) slumped by Rs 345 to close at Rs 41,525 per kg from Rs 41,870 previously.
In overseas markets, gold traded bearish on continued investor cautiousness following strong dollar ahead of US jobs data which will give a clue about Federal Reserve's stimulus tapering.
In London, spot gold was bid down at $1,233.81 an ounce in early trade and silver bid lower at $19.08 an ounce.