Gold gains on mild demand, global cues; silver slips

Gold gained marginally by Rs 15 per 10 grams to finish at Rs 29,390 at the bullion market here today following good demand from stockists and retailers amid firm global cues.
While, silver slipped modestly by Rs 45 per kg to Rs 38,675 on subdued offtake from industrial units.
Standard gold (99.5 per cent purity) rose by Rs 15 to end at Rs 29,390 per 10 grams from Monday's closing level of Rs 29,375.
Pure gold (99.9 per cent purity) also moved up by a similar amount to close at Rs 29,540 per 10 grams compared to Rs 29,525 previously.

Silver (.999 fineness) climbed by Rs 295 to conclude at Rs 38,720 per kg as against Rs 38,425 last weekend.
Overseas, gold hit its highest since late September, extending a year-end rally that saw the metal rise 4.4 per cent in the last three weeks of 2017, as a further retreat in the dollar drove prices above USD 1,310 an ounce.

The weaker dollar, which posted its biggest annual drop since 2003 last year, helped to lift gold by more than 13 per cent in 2017.
Spot gold was up at USD 1,311.30 an ounce in early European trade, while US gold futures for February delivery were up at USD 1,313.20 an ounce.

Among other precious metals, spot silver was up 0.7 per cent at USD 17.06.