Gold eases, silver drops on subdued demand, global cues

Gold prices continued its slide to eased for the fourth day at the domestic bullion market here today due to lack of demand from jewellery stockist and retail consumers amid lower global cues.
Elsewhere, silver too remained under selling pressure on the back of sustained speculative unwinding.
Standard gold (99.5 purity) declined by Rs 85 to end at Rs 27,640 per 10 grams from Wednesday's closing level of Rs 27,725.
Pure gold (99.9 purity) also went down by a similar margin to close at Rs 27,790 per 10 grams from Rs 27,875.
Silver (.999 fineness) dipped by Rs 685 to conclude at Rs 38,630 per kg as against Rs 39,315 previously.

On the global front, gold edged lower as uncertainty in Greece after the European Central Bank said it would no longer accept Greek bonds in return for funding, left investors on the sidelines. The ECB's announcement dealt a blow to Athens which is seeking debt relief from euro zone lenders, knocking the euro down against the dollar in early trade.
Spot gold bid fell at USD 1,263.51 in early European trading and silver moved down at USD 17.23 an ounce.