Gold, silver slips on reduced offtake

Gold prices slipped at the bullion market here today on reduced offtake from stockist and investors amid subdued local buying interest.
Silver also declined following speculative selling and lackustre industrial demand.
Standard gold (99.5 purity) dipped by Rs 175 to finish at Rs 26,675 per 10 grams from Wednesday's level of Rs 26,850.
Pure gold (99.9 purity) also fell by similar margin of Rs 175 to close at Rs 26,825 per 10 grams compared Rs 27,000 yesterday.
Silver (.999 fineness) also moved down by Rs 130 per kg to conclude at Rs 37,610 as against Rs 37,740 previously.
Globally, gold rose in early trade as the dollar retreated, but remained close to its lowest level in two weeks after the Federal Reserve hinted at a possible US rate hike in December.

In London, spot gold rose at USD 1,160.16 an ounce in early trade following a 1 percent slide in previous session, when the metal fell to USD 1,152, its lowest since Oct.13 and Spot Silver followed gold's climbed to USD 15.94 an ounce.