Gold declines further on persistent offering, silver slips

Silver too, moved down owing to subdued industrial offtake. "Globally the yellow metal is witnessing a bearish mode due to year-end profit-taking along with rising dollar amidst signs of improving economy, thus pushing local investors here to just follow suit," traders said.

Standard gold (99.5 per cent purity) fell by Rs 75 per 10 grams to close at Rs 20,380 from yesterday's closing level of Rs 20,455. Pure gold (99.9 per cent purity) also dropped by a similar margin to finish at Rs 20,480 per 10 grams as compared to Rs 20,555 yesterday. Silver ready (.999 fineness) slipped by Rs 35 per kg to settle at Rs 45,270 from Rs 45,305 yesterday.

In New York, gold futures extended losses on rising dollar. Gold for February delivery lost by USD 15.20 to USD 1,371 an ounce at the Comex division of NYMEX yesterday.
Silver for March delivery down by 47 cents to USD 28.78 an ounce.