Gold, silver fall on weak global cues

Gold prices slipped further to over one-and-half month low on weak stockist and investors demand amid dull local buying interest, mainly driven by continued global downtrend.
Silver also fell to multi-month lows to crack below the Rs 38,000-mark on persistent selling pressure.
Globally, Gold prices tumbled to six-week lows, following a strengthening dollar on expectations of further US rate rises this year and receding political uncertainty in Europe.
The dollar strengthened after the US Federal Reserve played down any threats to the possible hikes in interest rates, supporting forecasts of another move in June.
Standard gold (99.5 per cent purity) dropped by Rs 375 to close at Rs 28,195 per 10 grams from Wednesday's close of Rs 28,570. (the level not seen since March 15 at 28,065 per 10 grams)

Pure gold (99.9 per cent purity) also dipped by a similar margin to settle at Rs 28,345 per 10 grams against Rs 28,720 yesterday.

Silver (.999 fineness) plunged by Rs 775 per kg to Rs 38,650 compared to Rs 39,425 previously. (the level not seen since December 26, 2016 at 38,740 per kg).
In London, spot gold was down 0.3 per cent to USD 1,234.88 an ounce in early trade.
While, silver rose 0.7 per cent to USD 16.50 an ounce.