Gold, silver fall on weak global cues and low demand

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New Delhi, Oct 19 Gold slipped by Rs 100 to Rs 27,150 per ten grams at the bullion market today, tracking a weak global trend amid subdued demand from jewellers at

prevailing levels.

Silver also declined by Rs 200 to Rs 37,100 per kg on reduced offtake by industrial units and coin makers.

Traders said a weak global trend where gold retreated from three-month high as signs of a buoyant US economy revived expectations that the Federal Reserve may raise interest rates, mainly put pressure on precious metals prices.

Globally, gold declined 0.5 per cent to USD 1,171.38 an ounce and silver lost 0.9 per cent to USD 15.90 an ounce in Singapore.

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