Gold,silver fall on selling,weak global cues

Gold prices extended fall at the domestic bullion market today on continued selling by stockists and traders coupled with lower local buying interest amidst bearish international cues. Silver also declined further following sustained speculative selling amidst subdued industrial demand.Standard gold of 99.5 per cent purity dropped by Rs 210 to conclude at Rs 28,060 per 10 gm from Thursday’s closing level of Rs 28,270.

Pure gold of 99.9 per cent purity dipped by Rs 220 to finish at Rs 28,195 per 10 gm from Rs 28,415. Silver ready (.999 fineness) eased by Rs 90 to end at Rs 41,860 per kg from yesterday’s close of Rs 41,950. Globally,gold slid to two-week low as dollar strengthened on hope that positive US jobs data would speed up the withdrawal of stimulus measures by Federal Reserve. In London,spot gold was bid down at USD 1,283.29 an ounce in early trade,while silver was bid lower at USD 19.26 an ounce.