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Gold gains on sustained demand, silver slips
Rising for the fourth straight session, gold gained Rs 30 per 10 grams at the bullion market here today following sustained demand from stockists and retailers even as the precious metal weakened overseas.
By
migrator
migrator
Mumbai
Silver dipped by Rs 310 per kg due to subdued offtake from industrial units.
Standard gold (99.5 purity) climbed by Rs 30 to end at Rs 29,570 per 10 grams from it's Tuesday's level of Rs 29,540.
Pure gold (99.9 purity) also moved up by the same amount to close at Rs 29,720 per 10 grams as against Rs 29,690.
However, silver (.999 fineness) declined by Rs 310 per kg to conclude at Rs 36,700 compared to Rs 37,010 earlier.
Globally, gold prices came under pressure from a stronger dollar as the US Federal Reserve reaffirmed intentions to raise interest rates and fresh trade tariffs between the US and China kicked in.
Spot gold was down 0.6 per cent at USD 1,188.19 an ounce at early trade.
Spot silver was down 1.1 per cent at a one-week low of USD 14.56 an ounce.
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