Gold rallies on good buying support; silver declines

Gold price rallied at the domestic bullion market here today on sustained demand from jewellery stockists and retail consumers.
In contrast, silver declined marginally owing to reduced offtake from consuming industries.
Standard gold (99.5 purity) advanced by Rs 205 to conclude at Rs 28,925 per 10 grams from yesterday's closing level of Rs 28,720.
Pure gold (99.9 purity) also added a similar margin to end at Rs 29,075 per 10 grams compared to Rs 28,870 previously.
However, silver (.999 fineness) eased by Rs 75 to settle at Rs 38,910 per kg against Rs 38,985 earlier.
In worldwide trade, gold rose slightly, supported by an inauspicious start to June for stock markets and the dollar, as the market tries to assess how close the US is to raising interest rates.

Spot gold was at USD 1,215.76 an ounce in early trade, up 0.1 percent on the day. The precious metal gained 0.8 percent on Tuesday, its biggest single-day percentage gain since May 13, after some 10 days of declines.
Among other precious metals, spot silver fell 0.3 per cent to USD 15.97 per ounce.