Gold rises Rs 180 on global cues, silver slips

Gold rose by Rs 180 per 10 grams at the bullion market here today on positive global cues and increased buying by local jewellers.

Silver softened by Rs 65 per kg due to subdued offtake from industrial units.

Standard gold (99.5 purity) climbed by Rs 180 to end at Rs 30,910 per 10 grams from Tuesday's level of Rs 30,730.

Pure gold (99.9 purity) also moved up by the same amount to close at Rs 31,060 per 10 grams as against Rs 30,880 yesterday.

However, silver (.999 fineness) eased by Rs 65 per kg to conclude at Rs 38,330 compared to Rs 38,395 earlier.

Globally, gold rose nearly 1 per cent as the dollar dipped and share markets faltered after China retaliated in kind to a US move to slap tariffs on USD 50 billion worth of its imports, raising trade war jitters.

Spot gold was up 0.8 per cent at USD 1,343.40 per ounce at early trade.

In other precious metals, spot silver rose 0.6 per cent to USD 16.47 per ounce, after shedding 1.4 per cent on Tuesday.