Gold remains weak on subdued demand, global cues

Gold prices today fell by another Rs 25 to Rs 27,225 per ten grams at the bullion market in the national capital due to slackened demand at prevailing levels from jewellers and retailers amid a weak trend overseas.
Silver also declined by Rs 100 to Rs 36,600 per kg on reduced offtake by industrial units and coin makers.
Traders said apart from subdued demand from jewellers and retailers at prevailing levels, a weak trend in global markets mainly kept gold prices lower.
Globally, gold eased by 0.16 per cent to USD 1196.00 an ounce in London today.
In Delhi, gold of 99.9 and 99.5 per cent purity shed another Rs 25 each to Rs 27,225 and Rs 27,025 per ten gram respectively. It had lost Rs 50 yesterday.

Sovereign, however, continued to trade at last level of Rs 23,700 per piece of eight gram.
Silver ready also fell by Rs 100 to Rs 36,600 per kg and weekly-based delivery by Rs 190 to Rs 36,610 per kg. Silver coins plunged by Rs 1,000 to Rs 60,000 for buying and Rs 61,000 for selling of 100 pieces.