Gold dips on subdued demand

Continuing its downtrend for the fourth straight session, gold dipped by Rs 30 per 10 grams at the bullion market here today, taking weak cues from overseas markets and fall in demand from local jewellers.
Meanwhile, silver rebounded by Rs 135 per kg owing to renewed offtake from industrial units.
Standard gold (99.5 purity) fell by Rs 30 to close at Rs 30,405 per 10 grams from its Wednesday's level of Rs 30,435.
Pure gold (99.9 purity) also declined by the same amount to end at Rs 30,555 per 10 grams compared to Rs 30,585 yesterday.
However, silver (.999 fineness) rose by Rs 135 per kg to finish at Rs 38,315 as against Rs 38,180, previously.

Globally, Gold inched lower and was headed for its biggest weekly loss in 2018 as the dollar was boosted by minutes from the last US Federal Reserve meeting that showed policymakers backed further rises in interest rates.
Spot gold slipped 0.1 per cent to USD 1,322.06 per ounce at early trade.
Among other precious metals, silver was steady at USD 16.50 an ounce.