Gold, silver drops on subdued demand

Posted By: Pti
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Mumbai, Feb 3 (PTI) Gold and silver prices fell furtherat the bullion market here today on continued offering fromstockists as well as reduced retail buying amidst bearishinternational trend.

Standard gold (99.5 per cent purity) declined by Rs 60per 10 grams to close at Rs 19,825 from Wednesday''s closinglevel of Rs 19,885.

Pure gold (99.9 per cent purity) also dipped by Rs 65 per10 grams to end at Rs 19,925 from Rs 19,990 over its previousclose.

Silver ready (.999 fineness) fell by Rs 60 per kg toconclude at Rs 43,985 from Rs 44,045 yesterday.

In New York, gold prices slid on strong dollar amidstoptimistic global economic outlook.

Gold futures for April delivery closed down by USD 8.20to USD 1,332.10 an ounce on the Comex division of the NYMEXyesterday.

March silver also ended lower by 23 cents to USD 28.29an ounce.

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