Gold drops on dull demand, weak global cues; silver also slips

Gold prices declined further at the bullion market here today due to weak demand from jewellery stockists as well as consistent selling by investors amid sluggish overseas sentiment.
Silver also drifted down on speculative unwinding coupled with lack of industrial buying support.
Standard gold (99.5 purity) dropped by Rs 135 to end at Rs 27,810 per 10 grams from overnight level of Rs 27,945.
Pure gold (99.9 purity) shed Rs 140 to end at Rs 27,955 per 10 grams compared to Rs 28,095 previously.
Silver (.999 fineness) fell by Rs 145 to finish at Rs 45,450 per kg from Wednesday's level of Rs 45,595.

In the global market, the yellow metal tumbled below the key level of USD 1,300 an ounce on investor sell-off spooked by strong rally in global equities and easing concerns over the Ukraine crisis.
Spot gold was bid lower at USD 1,295.00 an ounce in early European trade.