Gold, Silver decline on sluggish demand, global cues

Both the precious metals, gold and silver, declined in the national capital today owing to subdued demand at prevailing higher levels amid a weak global trend. Traders said subdued demand from retailers at prevailing higher levels and a weak global trend mainly led to fall in both gold and silver prices. Gold in global markets, which normally set price trend on the domestic front, fell by USD 9.90 to USD 1,646.90 an ounce and silver by 0.07 per cent to USD 30.16 an ounce in New York last night. - in India Economic Times