Gold, silver fall on subdued demand, global uneasiness

MUMBAI: Gold prices drifted further at the domestic bullion market today due to lacklustre buying by jewellery stockists and retail investors amidst lower global cues.

Silver rates continued the fall for the 5th straight session because of mute demand from jewellery and coin makers.

Standard gold (99.5 purity) moved down by Rs 25 to finish at Rs 26,220 per 10 grams from Tuesday's closing level of Rs 26,245.

Pure gold (99.9 purity) also eased by a similar margin to close at Rs 26,370 per 10 grams from Rs 26,395.

Silver (.999 fineness) declined by Rs 165 to end at Rs 37,660 per kg as compared to Rs 37,825 yesterday.

At overseas markets, London gold eased in early trade after ending March down more than 2 per cent, as the dollar edged higher and as expectations that US interest rates will rise this year weighed on the metal.

Spot gold was down by $1,181.70 an ounce and spot silver fell to $16.59 an ounce in early European trade.