Gold slips, silver weakens on global cues

Falling for the second straight day, gold prices drifted lower, in line with a weak trend overseas amid muted demand from jewellers and customers at the domestic bullion market here today.

Silver followed suit and eased by Rs 15 per kg due to reduced off-take by industrial units.

Standard gold (99.5 purity) declined by Rs 115 to end at Rs 29,165 per 10 grams from Wednesdays closing level of Rs 29,280.

Pure gold (99.9 purity) also fell by a similar margin to conclude at Rs 29,315 per 10 grams as compared to Rs 29,430 previously.

Silver (.999 fineness) dropped by Rs 15 per kg to close at Rs 40,685 as against Rs 40,700 yesterday.

Globally, gold drifted as investors stayed on the sidelines waiting for the outcome of the European Central Bank meeting, Britains national election and testimony from the former US FBI director James Comey.

Spot gold was down 0.2 per cent at USD 1,283.76 per ounce at early trade.

In other precious metals, silver rose 0.4 per cent to USD 17.63. 

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Gold hits more than six-week high as dollar, stocks lose steam

As US buck and the Asian stock markets weakened beforehand of a UK national election and a european relevant bank meeting scheduled for Thursday, Gold reached its very best in additional than six weeks on Tuesday.

As US buck and the Asian stock markets weakened ahead of a UK national election and a european significant financial institution assembly scheduled for Thursday, Gold reached its absolute best in additional than six weeks on Tuesday.

The bullish sentiment surrounding gold is backed by a soar in investor demand.

Spot gold rose zero.4% to $1,283.94 per ounce at 0405 GMT. It hit a peak of $1,284.96 an oz. early in the session, its very best stage since April 21.

U.S. gold futures were up zero.4% to $1,287.1 an ounce.

among other treasured metals, palladium rose 0.1% to $842.25 an ounce. It hit its strongest degree on the grounds that September 2014 at $849.40 on Monday.

Silver received 0.5 pct to $17.fifty nine. It hit a peak of $17.647 on Monday, best possible because April 26. Platinum used to be up 0.5 p.c at $955.

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