Gold edges down on lower demand, silver slips

Gold slipped marginally by Rs 15 to Rs 30,065 per 10 gram at the bullion market here today following the lower demand from stockists and retailers even as metals strengthened overseas.

Silver prices also dropped on lack of demand from industrial users.

Standard gold (99.5 percent purity) declined by Rs 15 to close at Rs 30,065 per 10 gram from Tuesday's closing level of Rs 30,080.

Pure gold (99.9 percent purity) also fell by the same amount to close at Rs 30,215 per 10 gram compared to Rs 30,230 earlier.

Silver (.999 fineness) dropped Rs 325 per kg to conclude at Rs 37,120 from Rs 37,445, previously.

Globally, gold climbed as funds bet prices would find short-term support at USD 1,200 per ounce, but a stronger dollar and expectations for increases in the US interest rates limited the gains.

Spot gold was up by 0.1 percent at USD 1,204.43 an ounce in an early trade.

Spot silver was up 0.2 percent at USD 14.67.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)