Gold, silver fall on global cues, reduced demand

Mumbai, Sept 1 (PTI) Gold prices fell by Rs 160 per 10grams for the fourth-day at the bullion market here today,largely in tandem with a weakening trend overseas amid reduceddemand from stockists and retailers. Elsewhere, silver too moved down owing to lacklusterindustrial demand. Standard gold (99.5 purity) dipped by Rs 160 to end atRs 30,785 per 10 grams from Wednesday’s closing level of Rs30,945. Pure gold (99.9 purity) also moved down by a similarmargin to finish at Rs 30,935 per 10 grams against Rs 31,095earlier. Silver (.999 fineness) eased by Rs 45 to conclude atRs 45,035 per kg as against Rs 45,080. On the global front, gold dropped to its lowest in overtwo months, as European shares rose, while investors waited tosee if U.S. jobs data could put the Federal Reserve on trackto hike interest rates. Spot gold touched its lowest since June 24 at USD 1,303.95an ounce earlier and was down 0.2 percent at USD 1,306.21 inearly European trade. Silver was up 0.1 percent at USD 18.62 an ounce. PTI RDABI