Gold, silver prices dip on low demand, weak global trend

Gold prices declined by Rs 55 to settle at Rs 27,075 per 10 grams at the bullion market today due to ease in demand from jewellers at domestic spot market coupled with weak global cues.
Silver also softened by Rs 190 to Rs 36,910 per kg on reduced offtake by industrial units and coin makers.
Traders said besides weak global trend, low demand from jewellers and retailers mainly led to the decline in prices of both the metals.
Globally, gold fell by 0.06 per cent to USD 1,181.30 an ounce and silver by 0.44 per cent to USD 15.96 an ounce in New York in yesterday's trade.

In the national capital gold of 99.9 and 99.5 per cent purity fell by Rs 55 each to Rs 27,075 and Rs 26,925 per 10 grams, respectively. Gold prices gained Rs 20 yesterday.
Sovereign also eased by Rs 100 to Rs 23,300 per piece of eight gram.
Following gold, silver ready moved down by Rs 190 each to Rs 36,910 per kg and weekly-based delivery by a similar margin to Rs 36,595 per kg.
On the other hand, silver coins continued to be traded at previous level of Rs 54,000 for buying and Rs 55,000 for selling of 100 pieces.