Gold softens further on easing economic worries

Gold prices declined marginally for the second straight day on the bullion market here today on mild offerings by stockists following overnight fall in the New York market.

Silver also moved down further on lack of industrial demand at higher levels coupled with lower overseas advices.

Gold futures fell in New York on Friday as government data showed the US economy lostlower jobs than expected in April, easing economic worries and curbing gold's appeal as a safe asset. 

Gold for June delivery eased to $914.90 an ounce on the Comex division of the New York Mercantile Exchange. Silver also moved down to $13.955 an ounce.

In the domestic market, standard gold (99.5 purity) slipped by Rs 5 per ten grams to Rs14,605 from the yesterday's closing level of Rs 14,610. Pure gold (99.9 purity) eased to Rs 14,675 as against Rs 14,680 previously.

Silver ready (.999 fineness) dropped by 50 per kilo to Rs 22,575 from Rs 22,625 yesterday.