Gold, silver slip on sluggish demand

Gold prices slipped by Rs 290 per 10 grams at the bullion market here today following sluggish demand from stockists and investors.
Silver too slid owing to reduced offtake by industrial units and coin makers.
Standard gold (99.5 purity) dropped by Rs 290 to close at Rs 29,360 per 10 grams from Monday's level of Rs 29,650.
Pure gold (99.9 purity) also declined by a similar margin to finish at Rs 29,510 per 10 grams compared to Rs 29,800 earlier.
Silver (.999 fineness) dipped by Rs 540 per kg to end at Rs 39,290 as against Rs 39,830 previously.
Globally, Gold rebounded early trade as investors anticipated signals on the direction of US monetary policy from the minutes of a November Federal Reserve meeting.

Spot gold was up at USD 1,279.62 per ounce in early European trade. The metal fell about 1.4 percent yesterday in its biggest one-day percentage drop since September 11.
Silver climbed to USD 16.97 an ounce.