Gold extends losses on weak global cues

Gold prices today fell further by Rs 100 to close at Rs 15,100 per ten gram in the bullion market here on sustained selling by stockists amid weakening overseas trend.

Trading activity in gold remained restricted as the precious metal slipped further in the international market by 0.6 per cent to $910.42 an ounce.

Marketmen said sustained selling by stockists in tandem with weakening trend in global market mainly led to a fall in gold prices.

They said reduced offtake by retailers on the end of the marriage season also influenced trading to some extent.

Standard gold and ornaments lost another Rs 100 each to Rs 15,100 and Rs 14,950 per ten gram, respectively. Sovereign held steady at Rs 12,200 per piece of eight gram.

On the other hand, the white metal attracted brisk buying support from industrial units and speculators and recorded handsome gains. Silver ready gained Rs 180 to Rs 21,600 per kg and weekly based delivery by 40 to Rs 21,860 per kg.

However, silver coins ruled flat at Rs 28,300 for buying and Rs 28,400 for selling of 100 pieces.