Gold down on reduced off-take; silver rebounds

Gold prices posted marginal drop today following lack of firm demand from retail consumers and investors amid sluggish global sentiment.
Local buying interest in view of ongoing wedding season as well as upcoming festivals cushioned the slide in the yellow metal.
On the other hand, silver regained some lost ground, after recent sharp fall, on emergence of fresh demand from industrial users and coin makers.
Standard gold (99.5 purity) moved down by Rs 49 to Rs 30,461 per 10 grams from Rs 30,510 on Friday.
Pure gold (99.9 purity) also edged lower by a similar margin to Rs 30,611 per 10 grams as against Rs 30,660, according to Riddisiddhi Bullions Ltd.

Silver (.999 fineness), however, rose by Rs 103 per kg to Rs 46,963 from Rs 46,860 yesterday.

Globally, the yellow metal finished lower on investor profit-taking as well as upbeat US macro data.
Gold for April delivery dropped USD 10.20 to settle at USD 1,321.60 an ounce late yesterday on the Comex division of the New York Mercantile Exchange.
March silver slipped 11 cents to USD 21.24 an ounce.