Gold extends losses for 7th day, down Rs 20 on sustained selling


New Delhi: Extending losses for the seventh straight session, gold shed another Rs 20 to close at Rs 27,750 per 10 grams in the national capital on sustained selling by stockists against easing demand from jewellers and retailers, even as the metal recovered in global markets.

However, silver recovered by Rs 75 to Rs 42,075 per kg on increased offtake by industrial units.

Traders said sustained stockists selling against falling demand from jewellers and retailers mainly kept pressure on gold prices but a better trend in the global markets capped the losses.