Gold, silver slip on reduce demand, global cues

After yesterday's gain, gold prices drifted by Rs 230 per 10 gram at the bullion market here today, tracking a weakening global trend amid reduced demand from jewellers.
Silver also followed suit and lost Rs 575 per kg on subdued offtake by industrial units.
Standard gold (99.5 purity) declined by Rs 230 to conclude at Rs 29,700 per 10 grams from Wednesday's closing level of Rs 29,930.
Pure gold (99.9 purity) also fell by a similar margin to close at Rs 29,850 per 10 grams from Rs 30,080.
Silver (.999 fineness) dipped by Rs 575 to finish at Rs 40,560 per kg as against Rs 41,135 yesterday.

Globally, gold fell to a three-week low, extending the previous day's slide, after minutes from the Federal Reserve's latest policy meeting signalled it could raise the US rates as soon as next month.
Spot gold was down 0.3 per cent at USD 1,253.60 an ounce at early trade.
Among other precious metals, silver was down 1.2 per cent at USD 16.60 an ounce.