Gold,silver prices down on sluggish demand,global cues

Traders said sluggish demand at prevailing higher levels amid a weak global trend mainly led to decline in gold and silver prices.

In London,gold declined by USD 3.10 to USD 1,573.70 an ounce and silver by 0.24 per cent to USD 28.51 an ounce.

On the domestic front,gold of 99.9 and 99.5 per cent purity declined by Rs 10 each to Rs 30,170 and Rs 29,970 per 10 grams,respectively,while sovereigns held steady at Rs 25,300 per piece of eight grams.

Similarly,silver ready fell by Rs 50 to Rs 55,200 per kg and weekly-based delivery by Rs 100 to Rs 54,825 per kg.

Silver coins also dropped by Rs 1000 to Rs 81,000 for buying and Rs 82,000 for elling of 100 pieces.