India gold, silver turn weak on global cues, sluggish demand

Both the precious metals, gold and silver, fell on the bullion market today on profit-selling by stockists, amid a weak trend in overseas markets. While gold dropped by Rs 250 to Rs 26,660 per 10 grams, silver lost Rs 1,200 to Rs 53,000 per kg on reduced offtake at existing higher levels. Selling pressure gathered momentum after gold declined in New York, as investors sold the metal to cover losses in other assets.

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