Mumbai, Mar 21 (PTI) Gold prices eased at the bullion market here today owing to slackened demand from jewellers and customers at prevailing levels amid a weak global cues.

Silver also dropped by Rs 125 per kg due to reduced offtake by industrial users.

Standard gold (99.5 purity) slumped by Rs 55 to finish at Rs 28,475 per 10 grams from Monday’s closing level of Rs 28,530.

Pure gold (99.9 purity) also shed by a similar margin to conclude at Rs 28,625 per 10 grams as against Rs 28,680 earlier.

Silver (.999 fineness) dropped by Rs 125 per kg to end at Rs 41,255 compared to Rs 41,380 previously.

Globally, gold dipped as a weaker dollar only partially offset a price retreat seen in Asian trading hours, after a failure to overcome chart resistance prompted speculative selling after a four-day rally.

Spot gold was down 0.1 per cent at USD 1,231.67 an ounce at early trade, having dropped USD 8 an ounce in less than an hour after it touched session highs overnight at USD 1,235.26.

Silver was down 0.2 percent at USD 17.37.

This is published unedited from the PTI feed.