Gold, silver drop on global cues, stockist offering

Mumbai, Feb 12 (PTI) Gold and silver prices declined atthe bullion market here today due to offering by stockistsamidst profit taking by speculators on the back of bearishtrend at international market.

Standard gold (99.5 per cent purity) slipped by Rs 65 per10 grams to close at Rs 20,215 from Friday''s closing level ofRs 20,280.

Pure gold (99.9 per cent purity) also fell by a similarmargin to conclude at Rs 20,315 as compared to Rs 20,380previously.

Silver ready (.999 fineness) dropped by Rs 135 per kg toend at Rs 46,000 from yesterday''s closing level Rs 46,135.

In New York, gold futures settled lower over easing ofEgyptian crisis amidst strengthening dollar.

Gold for April delivery lost USD 2.10 to settle at USD1,360.40 an ounce on the Comex division of NYMEX.

March silver was down by 10 cents at USD 29.99 an ounce.