Mumbai, September 10: Gold prices dropped further on the bullion market here today due to lack of local demand and offerings by stockists in view of sluggish overseas cues.
Silver also declined in the absence of demand from industrial users.
In New York, gold futures traded slightly lower on Wednesday, as investors preferred to takes some profits from its recent rally.
US gold for December delivery fell by USD 2.70 an ounce to USD 997.10 an ounce on the Comex Division of the New York Mercantile Exchange.
December silver futures down by 4 cents to USD 16.47 an ounce.
Turning to the domestic market, standard gold (99.5 purity) dipped by Rs 120 per ten grams to Rs 15,610 from yesterday’s closing level of Rs 15,730.
Pure gold (99.9 purity) also fell by similar margin to Rs 15,685 per ten grams against Rs 15,805 previously.
Silver ready (.999 fineness) too slipped by Rs 155 per kilo to Rs 26,005 from Rs 26,160 yesterday.
—Agencies