Gold near 2-month lows; silver extend losses

Gold prices fell to near two – month low at the domestic bullion market on Wednesday on heavy selling by stockists and investors amid mute local demand mainly driven by a uncertain global cues.
Silver also continued its speculative sell-off in the absence of industrial demand. Standard gold of 99.5 per cent purity dropped by ` 365 to close at ` 29,550 per 10 gm from Tuesday’s closing level of ` 29,915. Pure gold of 99.9 per cent purity also dipped by a similar margin to finish at ` 29,700 per 10 gm from ` 30,065.
Silver ready (.999 fineness) slid by ` 335 to conclude at ` 49,575 per kg as against ` 49,910 previously. In London, spot gold was bid up at $1,292.60 an ounce in early trade, while silver was bid higher at $21.17 an ounce.
Source: Hindu business line
Source:Bullion Bulletin

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