Gold edges higher on strong demand; silver slips

Gold extended its strong momentum for the fifth straight session at the domestic bullion market today and gained modestly on consistent demand from stockists and traders amid investment buying.
On the other hand, silver fell back modestly after recent rally owing to speculative selling.
Standard gold of 99.5 per cent purity firmed up by Rs 45 to finish at Rs 27,765 per 10 gm from Tuesday's closing level of Rs 27,720.
Pure gold of 99.9 per cent purity gained Rs 40 to end at Rs 27,900 per 10 gm from Rs 27,860.
Silver ready (.999 fineness), however, dropped Rs 105 to conclude at Rs 42,345 per kg from Rs 42,450 yesterday.

Globally, the yellow metal retreated from its one-month high on profit selling on the back of strong dollar value.
In London, spot gold was bid lower at USD 1,341 an ounce in early trade.