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Gold falls, silver extends gains

Press Trust of India  |  Mumbai 

Gold prices slipped after a two- session surge at the domestic bullion market here today following subdued demand from stockists and investors, even as the metal strengthened overseas.

However, silver maintained its rising trend and firmed up by Rs 45 per kg on increased offtake by industrial units.

Standard gold (99.5 purity) declined by Rs 65 to close at Rs 29,695 per 10 grams from Tuesday's finish of Rs 29,760.

Pure gold (99.9 purity) also fell by a similar margin to settle at Rs 29,845 per 10 grams as compared to Rs 29,910 yesterday.

Silver (.999 fineness) rose by Rs 45 to end at Rs 39,850 from Rs 39,805 earlier.

Globally, gold edged higher after Catalonia's leader balked at making a formal declaration of independence from Spain, sending the euro higher and the dollar down.

Spot gold was up 0.2 per cent at USD 1,289.40 an ounce at early trade.

In other precious metals, silver rose 0.3 per cent to USD 17.13 an ounce, having hit a three-week high in the previous session.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 11 2017. 18:42 IST