Gold extends fall on weak demand, global cues

Gold and silver prices continued to decline at the bullion market here today on lack of demand from stockists amidst fall in the global market.
Standard gold (99.5 purity) fell by 180 per 10 grams to close at Rs 29,700 from Wednesday's closing level of Rs 29,880.
Pure gold (99.9 purity) also fell by a similar margin to end at Rs 29,850 per 10 grams from Rs 30,030 yesterday.
Silver (.999 fineness) moved down by Rs 175 per kg to close at Rs 39,455 from Rs 39,630.
Globally, Gold touched its lowest in six weeks after the dollar and US bond yields rose on proposed US tax reforms and strong economic data that supported the case for another US interest rate hike this year.

Spot gold was up 0.2 per cent at USD 1,283.63 an ounce at early trade.
Silver was up 0.1 per cent at USD 16.76 an ounce after earlier dropping to USD 16.64, its lowest since Aug 16.