Gold extends losses on weak demand, global cues; silver slips

Gold prices fell further at the domestic bullion market today due to subdued demand from stockists and retailers on the back of lower global cues.
Silver also declined moderately on speculative selling.
Standard gold of 99.5 per cent purity slid by Rs 175 to close at Rs 29,515 per 10 gm from last Saturday's closing level of Rs 29,690.
Pure gold of 99.9 per cent purity also dipped by a similar margin to conclude at Rs 29,650 per 10 gm from Rs 29,825 previously.
Silver ready (.999 fineness) eased by Rs 100 to end at Rs 54,610 per kg from Rs 54,710 last weekend.

At the global front, gold was trading lower on investor selling amid last minute deal struck by Cyprus with lender- nations to avoid bankruptcy and keep the island nation in the euro-zone.
In Europe, gold was bid lower at USD 1,602.76 an ounce in early trade, while spot silver was bid down at USD 28.75 an ounce.