Mumbai:- Gold prices slipped from its recent gains at the domestic bullion market today on stockist and investors selling as well as subdued local buying despite a firm global trend.
While, silver gained further following sustained speculative offtake and industrial demand.
Standard gold (99.5 purity) fell by Rs 160 to close at Rs 29,085 per 10 grams from Friday’s level of Rs 29,245.
Pure gold (99.9 purity) also declined by a similar margin to end at Rs 29,235 per 10 grams as compared to Rs 26,395 previously.
However, Silver (.999 fineness) climbed by Rs 175 per kg to conclude at Rs 38,025 against Rs 37,850 last weekend.
On the Global front, the shiny-metal rose today, as the previous session’s near 2 percent loss tempted some price-sensitive buyers back to the market, but moves were muted ahead of closely watched policy meetings of the US and Japanese central banks this week.
The metal, which is highly sensitive to monetary policy and resulting currency moves, bounced to a 13-month high on Friday after the European Central Bank signalled an end to rate cuts, pushing the euro sharply higher versus the dollar.
Spot gold was up 0.8 per cent at USD 1,257.66 an ounce in early European trade and silver was up 1.2 per cent at USD 15.65 an ounce.
PTI
