Gold declines on weak demand, silver gains

Gold prices declined here today due to lack of demand at higher levels despite a positive trend in the international market.
On the other hand, silver rose on fresh industrial demand on the back of higher global advices.
Standard gold (99.5 purity) fell by Rs 158 to Rs 30,312 per 10 grams at 1700 hrs from the overnight level of Rs 30,470.
Pure gold (99.9 purity) also dipped by a similar margin to quote at Rs 30,482 per ten grams from Rs 30,640, yesterday, according to Riddisiddhi Bullions Ltd.
Silver ready (.999 fineness) rose by Rs 410 to Rs 47,050 per kg at 1700 hrs from Rs 46,640 yesterday, it said.

On the global front, gold prices hit six-month highs, extending the previous session's rally, as concerns about Russia's stand-off with Ukraine over Crimea peninsula fuelled buying and the dollar fell to 2-1/2 year lows against the euro.
Spot gold hit its highest level since September 10 at USD 1,374.85 an ounce in early trade and spot silver was bid up at USD 21.37 an ounce.