Mumbai:- Gold prices slipped by Rs 70 to Rs 29,575 per 10 grams at the domestic bullion market here today following reduced demand from stockists and retailers amid bearish global cues.
Silver also declined below the Rs 44,000 mark, down Rs 290 per kg to Rs 43,740 due to speculative selling by industrial users.
Standard gold (99.5 purity) fell by Rs 70 to close at Rs 29,575 per 10 grams from Monday’s close of Rs 29,645.
Pure gold (99.9 purity) also declined by a similar margin of Rs 70 to finish at Rs 29,725 per 10 grams compared to Rs 29,795 previously.
Silver (.999 fineness) dropped by Rs 290 to conclude at Rs 43,740 per kg as against Rs 44,030 yesterday.
Globally, gold held steady early today after falling from a 3-1/2 month high in the previous session as the market waited for a speech by US President Donald Trump that is expected to provide more clarity on economic reforms.
Spot gold was down at USD 1,251.46 an ounce at early European trade, having hit its highest since November 11 at USD 1,263.80 yesterday, while spot silver was flat at USD 18.26 an ounce, having touched a 3-1/2-week high at USD 18.48 in the previous session.
PTI
