Gold slips further on stockists selling, global uncertainty

Gold prices dropped further at the domestic bullion market today due to consistent selling by stockists and traders in the wake of sluggish demand amid weak global support.
Silver also moved down owing to reduced speculative buying activity.
Subdued seasonal off-take and apprehension among investors that the government could take up more tightening measures to curb demand for the precious metal against the backdrop of crumbling rupee valuations amidst widening current account deficit also weighed on sentiment.
Standard gold of 99.5 per cent purity shed by Rs 140 to conclude at Rs 27,570 per 10 gm from Tuesday's closing level of Rs 27,710.

Pure gold of 99.9 per cent purity fell by Rs 155 to end at Rs 27,700 per 10 gm from Rs 27,855.
Silver ready (.999 fineness) eased by Rs 90 to settle at Rs 44,470 per kg as against Rs 44,560 yesterday.
Globally, the shiny metal plunged to hit a three-week low spooked by BoJ decision to keep its monetary easing policy unchanged amid concerns over that the Fed will begin to scale back economic stimulus earlier-than-expected.
Spot gold was down at USD 1,378 an ounce in early European trade.