Gold declines on lacklustre demand; silver extends rally

Gold prices declined at the domestic bullion market here due to reduced offtake by jewellery stockists and retailers despite a firmer overseas trend.
In contrast, silver maintained its rallying momentum on the back of strong industrial demand.
Standard gold (99.5 purity) fell by Rs 60 to conclude at Rs 26,835 per 10 grams from last Saturday's closing level of Rs 26,895.
Pure gold (99.9 purity) also moved down by the same margin to settle at Rs 26,985 per 10 grams as compared to Rs 27,045.
However, silver (.999 fineness) rose by Rs 110 to finish at Rs 37,370 per kg from weekend level of Rs 37,260.

On the global front, the yellow metal edged higher on weak dollar, though rallying equities capped the gains.
Spot gold was bid higher at USD 1,196.60 an ounce in early European trade, while silver was up at USD 16.07 an ounce.