Gold slips on reduced offtake, holds Rs 30k mark

Mumbai: Gold prices slipped at the domestic bullion market on Tuesday on reduced offtake by stockist and investors as well as lower local buying interest at higher levels despite positive global cues.

Silver also found itself in the midst of speculative selling following reduced industrial buying.

Standard gold (99.5 purity) dropped Rs 115 to finish at Rs 30,195 per 10 grams from Monday’s closing level of Rs 30,310. Pure gold (99.9 purity) also slid by a similar margin to close at Rs 30,345 per 10 grams from Rs 30,460 earlier. Silver (.999 fineness) slumped by Rs 710 per kg to conclude at Rs 41,600 as against Rs 42,310 yesterday. Globally, gold ended near a 15-month peak in late New York trade as a fall in the dollar and weakness in global equities bolstered the metal. Gold for June delivery rose USD 5.30 to USD 1,295.80 at the Comex late yesterday, while July silver shed 13.7 cents to USD 17.682 an ounce. — PTI

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