Gold price, silver slip in dull trade

Mar 08 2013, 21:30 IST
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SummaryGold prices fell at the domestic bullion market today on sustained selling from stockists.

Gold prices fell at the domestic bullion market today on sustained selling from stockists and traders amidst dull local buying interest.

Silver also dropped and fell below the Rs 55,000 per kg-level owing to speculative unwinding on the back of lower industrial demand.

Standard gold of 99.5 per cent purity slipped by Rs 165 to close at Rs 29,260 per 10 gm from Thursday's closing level of Rs 29,425.

Pure gold of 99.9 per cent purity also dipped a similar margin to finish at Rs 29,400 per 10 gm from Rs 29,565 yesterday.

Silver ready (.999 fineness) slumped by Rs 410 to conclude at Rs 54,850 per kg as against Rs 55,260 previously.

In overseas market, gold was trading steady ahead of key US jobs data, which would give an indication for altering or boosting the toned-down Federal Reserve monetary easing.

In Europe, spot gold was flat at USD 1,577.90 an ounce in early trade, while silver was bid down at USD 28.76 an ounce.

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