Gold, silver slide on selling, low demand

Gold prices dropped further at the domestic bullion market today on continued profit selling by stockists and investors amid lack of local buying interest.
Silver also extended its losses owing to speculative sell-off coupled with reduced industrial off-take.
Standard gold of 99.5 per cent purity fell by Rs 310 to conclude at Rs 29,915 per 10 gm from Monday's closing level of Rs 30,225.
Pure gold of 99.9 per cent purity also dropped by a similar margin to end at Rs 30,065 per 10 gm from Rs 30,375.
Silver ready (.999 fineness) declined Rs 380 to finish at Rs 49,910 per kg as compared to Rs 50,290 yesterday.

Globally, gold rose on weak dollar amid renewed safe haven appeal following the US Government shutdown.
In London, spot gold was bid up at USD 1,332.80 an ounce in early trade, while silver was bid higher at USD 21.76 an ounce.