Gold, silver prices drop due to subdued local & industrial buying

Gold prices eased further at the domestic bullion market here today on consistent selling by stockists and traders on the back of subdued local buying interest at the existing higher levels amid weak global cues.
Silver also dipped further on poor industrial buying support.
Standard gold (99.5 purity) fell by Rs 65 to finish at Rs 26,565 per 10 grams from Wednesday's level of Rs 26,630.
Pure gold (99.9 purity) also went down by a similar margin to close at Rs 26,715 per 10 grams from Rs 26,780.
Silver (.999 fineness) dropped by Rs 110 to conclude at Rs 39,870 per kg compared to Rs 39,980 yesterday.
On the global front, gold prices fell to a nine-month low in early trade and other precious metals slid as the dollar rose to four-year highs against a basket of currencies while stock markets strengthened.
Spot gold dipped to USD 1,206.85 an ounce and silver also moved down to USD 17.50 an ounce in early trade at the European trade. PTI ARR KRK