Gold slips on stockist selling, global cues

Gold prices slipped at the domestic bullion market here on fresh selling from stockists and jewellery traders on the back of bearish global cues.
While, silver, on the other hand gained marginally owing to stray industrial buying support.
Standard gold (99.5 purity) fell up by Rs 95 to end at Rs 31,140 per 10 grams from last Friday's level of Rs 31,235.
Pure gold (99.9 purity) also eased by a similar margin to close at Rs 31,290 per 10 grams against Rs 31,385, previously.
However, silver (.999 fineness) rose by Rs 50 per kg to finish at Rs 44,935 as compared to Rs 44,885 last Friday.

On the global front, gold slid to a near five-week low in eartly European trade after comments from top Federal Reserve officials fuelled speculation that US interest rates would rise sooner rather than later, weighing on the dollar.
Spot gold touched its lowest since July 26 at USD 1,314.70, and was down 0.2 percent at USD 1,318.66 an ounce in early European trade.
Silver was down at USD 18.55 per ounce, having earlier touched its lowest in more than eight weeks at USD 18.36 an ounce.