#Gold slides on low demand, global cues

Gold prices fell by Rs 50 to Rs 27,600 per 10 grams at the bullion market today due to slackened demand from jewellers and retailers amid a weak global trend.

Silver also declined by Rs 180 to Rs 39,175 per kg on reduced offtake by industrial users and coin makers.

Traders said easing demand from jewellers and retailers and a weakening global trend mainly kept pressure onGOLD PRICES.

GOLD in New York, which normally sets price trend on the domestic front, fell 0.25 per cent to USD 1,206.80 an ounce in yesterday’s trade.