Gold, silver hit 3-mth lows on global cues

After a mild recovery, gold prices dropped to over three-month lows at the bullion market here today on sustained selling by stockists and traders driven by bearish International markets.
Silver also extended the losses on continued speculative sell-off.
Standard gold (99.5 purity) fell by Rs 125 to close at Rs 26,030 per 10 grams from Monday's closing level of Rs 26,155. The prices have not settled this low since November 29.
Pure gold (99.9 purity) also dipped by a similar margin to finish at Rs 26,180 per 10 grams from Rs 26,305.
Silver (.999 fineness) slid by Rs 245 per kg to conclude at Rs 36,495 as compared to Rs 36,740 yesterday.

At overseas, in Europe gold fell almost one percent to three-month low as the dollar rose to a near 12-year peak versus the euro on renewed expectations of a mid-year hike in US interest rates.
In London, spot gold dropped to USD 1,155.60 an ounce in early trade, while spot silver fell to its lowest in two months at USD 15.57 an ounce.