Gold strengthens, silver declines on selling

Gold prices strengthened further at the domestic bullion market here on sustained demand from stockists jewellers and investors on the back of current strength in overseas market.
While, silver witnessed a bouts of speculative selling to drop further amid lower industrial offtake.
Standard gold (99.5 purity) firmed up by Rs 135 to close at Rs 27,210 per 10 grams as against last Saturday's closing level of Rs 27,075.
Pure gold (99.9 purity) also gained by a similar margin of Rs 135 to finish at Rs 27,360 per 10 grams as against Rs 27,225 previously.
However, silver (.999 fineness) fell by Rs 580 per kg to conclude at Rs 36,400 compared with Rs 36,980 last weekend.

On the global front, gold eased slightly in early European trade but remained near a seven-week high as the dollar and shares tumbled on concerns about the Chinese economy and uncertainty over the timing of a US rate rise.
In London, spot gold moved down to USD 1,158.51 an ounce in early trade, while spot silver dropped to USD 14.92 an ounce.