Gold, silver slide on reduced demand

Gold prices dipped for the second straight day at the bullion market here today on reduced demand from stockists and retailors amid subdued local buying interest.
Elsewhere, silver also declined following speculative selling and lackluster industrial demand.
Standard gold (99.5 purity) declined by Rs 235 to finish at Rs 25,050 per 10 grams from Friday's closing level of Rs 25,285.
Pure gold (99.9 purity) also fell to end at Rs 25,200 per 10 grams as compared to Rs 25,435.
Silver (.999 fineness) also moved down by Rs 160 per kg to finish at Rs 34,555 from Rs 34,715 from Friday's closing level.

Globally, gold edged lower on Monday, heading towards its lowest level in nearly six years as the dollar hit a multi-month high and on track for its steepest monthly slide in 2-1/2 years on prospects of a U.S. Interest rate hike this year.
Spot gold slipped 0.1 percent to USD 1,056.01 an ounce the lowest since February 2010, while silver rose 0.5 percent to USD 14.12 but was set for a 10-percent monthly loss.