Gold, silver extend losses on selling, global cues

Gold extended losses at the bullion market here today on persistent profit taking from stockists and traders amid mute local buying interest and bearish global cues.
Silver also fell further on steady speculative selling and closed below the Rs 50,000 per kg level.
Standard gold of 99.5 per cent purity declined by Rs 95 to end at Rs 30,215 per 10 gram from Wednesday's closing level of Rs 30,310.
Pure gold of 99.9 per cent purity eased by Rs 90 to conclude at Rs 30,365 per 10 gram from Rs 30,455 yesterday.
Silver ready (.999 fineness) slumped by Rs 750 to finish at Rs 49,310 per kg from Rs 50,060 previously.

Globally, gold dropped below USD 1,300 an ounce as the dollar rebounded on signs that Washington was moving towards breaking the impasse over debt and averting a US debt default.
In London, gold was bid down at USD 1,298.51 an ounce in early trade and silver was bid lower at USD 21.79 an ounce.