Gold slides on weak global cues, muted demand

News, Business

New Delhi: Gold dipped by Rs 10 to Rs 30,500 at the bullion market today, largely in sync with a weak trend overseas amid falling demand from local jewellers.

Silver also fell by Rs 300 to Rs 40,700 per kg due to reduced offtake by industrial units and coin makers. Traders said a subdued trend overseas as firming dollar eroded demand for the precious metals, mainly influenced sentiment here.