Gold slips, silver weakens on global cues

Gold prices slipped at the domestic bullion market here following lower demand from stockists and investors driven by weakness in international markets.
Silver too witnessed bouts of speculative selling to drop further amid lower industrial offtake.
Standard gold (99.5 purity) declined by Rs 80 to end at Rs 29,035 per 10 grams from Monday's closing level of Rs 29,115.
Pure gold (99.9 purity) also fell by a similar margin to conclude at Rs 29,185 per 10 grams as compared to Rs 29,265 previously.
Silver (.999 fineness) dropped by Rs 385 per kg to close at Rs 39,155 as against Rs 39,540 yesterday.

Globally, gold eased as investors turned cautious after the metal failed to sustain a recent rally, though it held near the previous day's two-week high after the Federal Reserve further dampened speculation about an imminent US rate rise.
Spot gold was down 0.3 percent at USD 1,240.71 an ounce in early trade, while US gold futures for June delivery were down USD 3.90 an ounce at USD 1,243.50. It hit its highest since May 24 on Monday at USD 1,248.40.
Among other precious metals, silver was down 0.8 per cent at USD 16.27 an ounce.