Gold lower on global cues, subdued demand

Gold slipped from last weekend gain by Rs 95 per ten grams at the bullion market here today, on subdued offtake from stockists and investors driven by weak overseas trend.
Silver also eased by Rs 520 per kg on reduced demand by industrial units.
Standard gold (99.5 purity) slid by Rs 95 to conclude at Rs 30,740 per 10 grams from last Friday's closing level of Rs 30,835.
Pure gold (99.9 purity) also shed by a similar margin to end at Rs 30,890 per 10 grams compared to Rs 30,985 earlier.
Silver (.999 fineness) slumped by Rs 520 to finish at Rs 46,300 per kg from Rs 46,820 previously.

On the global front, gold fell, extending a second straight week of losses, as a recovery in risk appetite supported stock markets near nine-month highs ahead of central bank meetings this week in the United States and Japan.
Spot gold was down 0.5 percent at USD 1,314.87 an ounce in early trade, while U.S. Gold futures for August delivery were down USD 8.60 an ounce at USD 1,314.80.
Silver, which fell about 3 percent last week, was down 0.8 percent to USD 19.45.