Mumbai, May 25 (PTI) Gold continued to drift further at the domestic bullion market here due to reduced offtake by jewellery traders and retailers on the back of global uncertainty. Silver too dropped owing to consistent speculative unwinding amid reduced industrial demand. Standard gold (99.5 purity) declined by Rs 40 to close at Rs 27,065 per 10 grams from last Saturday's closing level of Rs 27,105. Pure gold (99.9 purity) also moved down by a similar margin to finish at Rs 27,215 per 10 grams from Rs 27,255. Silver (.999 fineness) dipped by Rs 95 to conclude at Rs 39,220 per kg as against Rs 39,315 last weekend. On the global front, gold prices fell slightly in early trade, as the dollar gained against major currency rivals, on signs the Federal Reserve is preparing to tighten monetary policy for the first time in six years. Fed Chair Janet Yellen indicated last Friday that the US central bank was poised to raise rates this year, with the world's largest economy set to bounce back from an early-2015 slump. Spot gold was down at USD 1,203.46 an ounce in late morning trade and silver was also fell at USD 16.99 an ounce.

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