Gold, silver decline on profit selling

MUMBAI: Gold and silver prices declined at the domestic bullion market here on Thursday on moderate profit- taking by investors amid sluggish demand at current levels.

Standard gold (99.5 purity) slipped by Rs 130 per 10 grams to end at Rs 26,630 from Wednesday's close of Rs 26,760.

Pure gold (99.9 purity) also dropped by a similar margin of Rs 130 per 10 grams to settle at Rs 26,755 from Rs 26,885 yesterday.

Silver ready (.999 fineness) slid by Rs 885 per kg to finish at Rs 53,820 as compared to Rs 54,705 previously.

In New York, gold futures rallied on weak dollar amid hopes over solving eurozone debt crisis.

Gold for December delivery added USD 21.60 to USD 1,682.60 an ounce on the Comex division of NYMEX yesterday.

Silver for December also rose by 79 cents to USD 32.79 an ounce.