Gold eases on low buying, silver drops

Gold prices eased at the domestic bullion market here today on lower offtake from stockists and traders as well as subdued local buying interest despite of positive global cues.
Silver also dropped on the back of reduced industrial demand.
Standard gold (99.5 purity) declined by Rs 30 to close at Rs 31,310 per 10 grams from Wednesday's closing level of Rs 31,340.
Pure gold (99.9 purity) also went down by a similar margin to finish at Rs 31,460 per 10 grams as against Rs 31,490 previously.
Silver (.999 fineness) dipped by Rs 225 per kg to end at Rs 47,280 against yesterday's level of Rs 47,505.

Globally, gold gained, bolstered by a softer dollar on views that the US central bank was in no hurry to hike interest rates.
Spot gold was up 0.2 per cent at USD 1,347.83 an ounce in early European trade.
Among other precious metal, spot silver climbed 0.6 per cent at USD 19.87. It touched its highest in over three weeks in the previous session.