Gold extends losses, down Rs 60 on weak global cues

New Delhi, Aug 31 (PTI) Gold remained weak for the thirdstraight-day with prices falling by another Rs 60 to Rs 31,050per 10 grams at the bullion market today, on low demand fromjewellers at domestic spot market amid weak global cues. However, silver held steady at Rs 44,800 per kg in limiteddeals from industrial units. Besides weak trend overseas, traders said, a fall indemand from jewellers at the domestic spot market mainly keptgold prices lower. Globally, gold fell 0.96 per cent to USD 1,310.50 an ouncein New York in yesterday’s trade. In the national capital, gold of 99.9 per cent and 99.5per cent purity fell by Rs 60 each to Rs 31,050 and Rs 30,900per 10 grams, respectively. The precious metal had lost Rs 140in the previous two sessions. Sovereign, however, remained steady at Rs 24,300 per pieceof eight grams. On the other hand, silver ready ruled flat at Rs 44,800per kg, while weekly-based delivery shed Rs 5 at Rs 44,125per kg. Silver coins, however, continued to be asked at previouslevel of Rs 75,000 for buying and Rs 76,000 for selling of 100pieces. PTI SUN KPSABI