Gold halts 2-day rally; silver declines

Snapping its two-day rally, gold dropped at the domestic bullion market here today following renewed selling by stockists and jewellers amid the yellow metal strengthening overseas.
On the other hand, silver remained under intense selling pressure for the second-straight session owing to sustained speculative unwinding.
Standard gold (99.5 purity) slipped by Rs 160 to finish at Rs 28,765 per 10 grams from Wednesday's closing level of Rs 28,925.
Pure gold (99.9 purity) also moved down by a similar margin to close at Rs 28,915 per 10 grams from Rs 29,075 earlier.
However, silver (.999 fineness) fell by Rs 140 to conclude at Rs 38,770 per kg from Rs 38,910 yesterday.

Globally, gold inched up as the dollar touched a two-week low against the yen as investors await US labour data to assess whether this will boost the prospect of an early interest rate rise by the Federal Reserve.
Spot gold was up 0.3 per cent at USD 1,215.41 an ounce in early European trade. U. Gold also gained 0.3 per cent to USD 1,218.
Among other precious metals, spot silver rose 0.3 per cent to USD 15.99 per ounce, after slipping to USD 15.77 on Wednesday, its lowest since April 12.