Gold, silver end weak on muted demand

Gold prices fell further at the domestic market on sustained selling by stockists and traders amid poor local buying. Silver, too, extended its slide following heavy speculative unwinding. Standard gold (99.5 purity) declined Rs 135 to finish at Rs 30,435 per 10g from Wednesday's closing, Rs 30,570. Pure gold (99.9 purity) looked down Rs 140 to end at Rs 30,580 per 10g from Rs 30,720. Silver ready (.999 fineness) slumped Rs 510 to close at Rs 45,480 a kg against Rs 45,990. Abroad, gold snapped its two-day decline, as the dollar edged lower and signs of physical demand emerged from Chinese buyers. Gains were kept in check by strong US economic data suggesting an end to the Federal Reserve's stimulus. Activity was less, as the US financial markets remained closed. In London, spot gold rose to $1,242 an ounce in early trade and silver was up at $19.70 an ounce.