Mumbai:- Gold prices slipped at the domestic bullion market here today, largely in tandem with weak global trends amid muted demand from stockists and jewellery traders.
However, silver rose owing to increased offtake from industrial users and speculative traders.
Standard gold (99.5 purity) declined up by Rs 120 to close at Rs 28,260 per 10 grams from Friday’s level of Rs 28,380.
Pure gold (99.9 purity) also moved down by a similar margin to end at Rs 28,410 per 10 grams against Rs 28,530 previously.
However, silver (.999 fineness) climbed by Rs 210 per kg to conclude at Rs 41,000 compared to Rs 40,790 earlier.
Globally, gold prices slumped, as there was no staying power for a gain in the safe-haven market initially sparked by Italy s referendum result.
Italian voters rejected constitutional reform on Sunday, leading Prime Minister Matteo Renzi to announce he will resign.
Gold futures for February delivery were down 0.8 per cent, or USD 9.40, to USD 1,168.40 an ounce, after earlier trading as high as USD 1,190.20. March silver was off 0.9 per cent, or 15 cents, to USD 16.68 an ounce.
PTI
