Gold slips for 2nd day; silver breaks below Rs 39k

Gold edged lower in listless trade for the second straight session at the bullion market here today due to lack of buying interest from stockists and retailers even as the metal rose overseas.
Silver too remained under selling pressure and dipped below the Rs 39,000-mark by tumbling Rs 390 per kg due to reduced offtake by industrial units.
Standard gold (99.5 purity) eased by Rs 10 to close at Rs 29,430 per 10 grams from Tuesday's level of Rs 29,440.
Pure gold (99.9 purity) also moved down by the same amount to finish at Rs 29,580 per 10 grams as against Rs 29,590 earlier.

Silver (.999 fineness) fell by Rs 390 per kg to finish at Rs 38,710 as compared to Rs 39,100 previously.
Globally, gold edged higher as a retreat in the dollar lent support but it remained hemmed within the narrowest monthly range since 2005 as soaring stock markets indicated buoyant appetite for more cyclical assets.
Spot gold was up 0.1 per cent at USD 1,294.57 an ounce at early trade.
Among other precious metals, silver was up 0.2 per cent at USD 16.86 an ounce.