Gold declines on sluggish demand, silver rebounds

Extending its fall for the third straight session, gold prices declined at the bullion market here today due to reduced demand from stockists and retail investors amid stable overseas cues.
In contrast, silver regained some lost ground on the back of renewed demand from industrial users.
Standard gold (99.5 purity) dropped by Rs 70 to close at Rs 27,205 per 10 grams from Wednesday's closing level of Rs 27,275.
Pure gold (99.9 purity) also fell by a similar margin to conclude at Rs 27,355 per 10 grams from Rs 27,425.
However, silver (.999 fineness) rose by Rs 75 to end at Rs 39,595 per kg compared to Rs 39,520 yesterday.

On the global front, gold was trading steady in early European trade as the dollar fell following minutes from the Federal Reserve's policy meeting showing the US central bank was unlikely to raise interest rates in June.
Spot gold was unchanged at USD 1,209.04 an ounce in early trade, while silver was up at USD 17.14 an ounce.