Gold loses sheen on global cues

Gold prices slipped at the domestic bullion market here today following a weak trend overseas along with sluggish demand from stockists and jewellers.
On the other hand, silver remained under selling pressure for the third-straight session owing to sustained speculative unwinding.
Standard gold (99.5 purity) slipped by Rs 90 to finish at Rs 28,770 per 10 grams from Thursday's closing level of Rs 28,860.
Pure gold (99.9 purity) also moved down by a similar margin to close at Rs 28,920 per 10 grams from Rs 29,010 earlier.
Silver (.999 fineness) fell by Rs 10 to conclude at Rs 39,920 per kg from Rs 39,930 yesterday.

Globally, gold prices fell to their lowest level in a week ahead of US non-farm payrolls data due later in the day that is expected to reinforce expectations of an interest rate rise this month.
Spot gold had dropped 0.2 per cent to USD 1,262.55 an ounce at early trade. It earlier touched its weakest since May 26 at USD 1,258.60.
Silver was down 0.8 per cent for the week.