Gold softens on lacklustre buying amid weak global cues

Gold prices moved down modestly at the domestic bullion market today due to reduced offtake by jewellery stockists as well as poor local buying interest in the face of global wariness.
On the other hand, silver rebounded owing to increased demand from industrial users.
Standard gold (99.5 purity) fell by Rs 25 to settle at Rs 26,935 per 10 grams, against Friday's level of Rs 26,960.
Pure gold (99.9 purity) also eased by a similar margin to finish at Rs 27,085 per 10 grams from Rs 27,110 previously.
However, silver (.999 fineness) rose by Rs 100 to conclude at Rs 39,360 per kg as compared to its overnight level of Rs 39,260.

On the global front, snapping a four-day rising steak, the yellow-metal declined after the dollar gained strength on improving US economic outlook, though recent dovish comments from the Federal Reserve cushioned losses.
December gold edged lower to USD 1,221.70 an ounce on the Comex division of the NYMEX late yesterday, while silver closed at USD 17.30 an ounce.