Gold extends fall on weak demand; silver steady

MUMBAI: Gold prices declined further in an otherwise listless domestic bullion market today due to lackluster demand from jewellery traders and retailers.

On the other hand, silver remained virtually steady in the absence of industrial buying support. Standard gold (99.5 purity) lost Rs 40 to conclude at Rs 26,375 per 10 grams from Thursday's closing level of Rs 26,415.

Pure gold (99.9 purity) dropped by a similar margin to conclude at Rs 26,525 per 10 grams against Rs 26,565. Silver (.999 fineness) finished unaltered at Rs 36,960 per kg.

Globally, the yellow metal edged higher on short-covering as well as bargain hunting by funds despite overnight robust US macro data. Spot gold was up at $ 1,196.20 an ounce in early European trade.