Gold, silver fall on global cues

Mumbai: Gold and silver prices fell further at the bullion market here today on hectic profit taking by stockists and speculators amidst subdued jewellery offtake on the back of lower international markets. Standard gold of 99.5 per cent purity declined by Rs 195 to close at Rs 27,880 per 10 grams from Thursday`s closing level of Rs 28,075.

Pure gold of 99.9 per cent purity slid by Rs 200 to close at Rs 28,005 per 10 grams as compared to Rs 28,205 previously. Silver ready (.999 fineness) dropped by Rs 200 per kg to conclude at Rs 56,160 per kg from Rs 56,360 yesterday.

In Europe, gold slipped as euro eased on optimism over Greece agreement for further austerity measures in order to receive the second rescue package. Spot gold was bid down at USD 1,716.49 an ounce in early trade. Spot silver was also quoted lower at USD 33.60 an ounce.