Gold gains on mild demand, silver slips

Gold prices recovered marginally at the domestic bullion market here today on mild demand from jewellery stockists and retailers, even as the metal weakened overseas.
While silver slipped modestly by Rs 20 per kg on subdued offtake from industrial units.
Standard gold (99.5 per cent purity) gained by Rs 5 to close at Rs 29,430 per 10 grams from last Friday's level of Rs 29,425.
Pure gold (99.9 per cent purity) also moved up by a similar margin to end at Rs 29,580 per 10 grams against Rs 29,575 previously.
Silver (.999 fineness) slipped by Rs 20 to conclude at Rs 38,705 per kg as against Rs 38,725 last weekend.

Globally, gold dipped, retreating from last week's three and a half month's high as the dollar clawed back some ground against the buoyant euro and traders bet on further US rate hikes this year after Friday's payrolls data.
Spot gold was down 0.1 per cent at USD 1,318.31 an ounce in early trade.
Among other precious metals, silver was trading 0.2 per cent lower at USD 17.17 an ounce.