Gold, silver decline on low demand, global cues

Gold prices softened by Rs 20 to Rs 26,780 per ten gram at the bullion market in the national capital today owing to low demand from jewellers and retailers amid a weak global trend.
Silver also eased by Rs 100 to Rs 36,200 per kg due to reduced offtake by industrial units and coin makers.
The ongoing wedding season could not boost the trading sentiment and low demand from jewellers and retailers was witnessed, traders said, adding that a weak global trend due to strengthening of dollar also reduced appeal for the bullion.
Gold in Singapore, which normally sets price trend on the domestic front, traded lower at USD 1,181.55 an ounce.

In Delhi, gold of 99.9 and 99.5 per cent purity declined by Rs 20 each to Rs 26,780 and Rs 26,580 per ten gram respectively, while sovereign remained steady at Rs 23,800 per piece of eight gram.
Silver ready fell by Rs 100 to Rs 36,200 per kg and weekly-based delivery by Rs 110 to Rs 35,760 per kg.
However, silver coins continued to be traded at last level of Rs 60,000 for buying and Rs 61,000 for selling of 100 pieces.