Gold price softens in lacklustre trade; Silver also slips

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SummarySilver also declined due to subdued demand from industrial units and coin makers.

Notwithstanding buoyant global cues, gold prices declined marginally in thin trade at the domestic bullion market today on reduced off-take from stockists as well as poor local buying interest.

Silver also declined due to subdued demand from industrial units and coin makers.

Standard gold (99.5 purity) eased by Rs 5 to settle at Rs 30,690 per 10 grams from overnight level of Rs 30,695.

Pure gold (99.9 purity) also moved down by a similar margin to conclude at Rs 30,840 per 10 grams from Rs 30,845.

Silver ready (.999 fineness) fell by Rs 115 to end at Rs 45,600 per kg as compared to Friday's close of Rs 45,715.

On the global front, the shiny metal rebounded sharply from a five-month low on hectic bargain hunting supported by a weak dollar.

Gold for February delivery rose USD 12.50 to close at USD 1,250.40 an ounce on the Comex division of NYMEX late yesterday and March silver contract also advanced to settle at USD 20.02 an ounce.

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