PTI: Gold declines on fresh selling, silver follows suit
MUMBAI: Gold prices declined at the bullion market here today on emergence of fresh selling from stockists and jewellers amid bearish trend in European markets.
Silver also dropped owing to lack of demand from industrial users.
Standard gold (99.5 purity) fell by Rs 50 per ten grams to close at Rs 16,750 from Wednesday's closing level of Rs 16,800.
Pure gold (99.9 purity) also slipped by Rs 50 per ten grams to Rs 16,835 as against Rs 16,885 yesterday.
Silver ready (.999 fineness) finished lower by Rs 75 per per kilo to conclude at Rs 28,340 from Rs 28,415.
In London, gold eased as dollar strengthened against basket currencies.
Spot gold was bid at USD 1,152.05 an ounce in early trade against USD 1,153.90 late in New York yesterday.
US gold futures for June delivery also lost USD 8.00 to USD 1,151.00 an ounce on the COMEX division of the NYMEX.
Silver was bid at USD 18.23 an ounce against USD 18.39.
