Gold, silver slip on selling, weak global cues

Mumbai, PTI | Updated : 12 July 2013, 07:12 PM

Gold prices slipped at the bullion market in Mumbai on Friday owing to profit taking by stockists and investors as well as lack of local buying interest on the back of weakness in international markets.

Silver also fell on modest speculative selling amid reduced industrial demand.

Standard gold of 99.5 per cent purity dropped by Rs 150 to finish at Rs 26,490 per 10 gm from Thursday's closing level of Rs 26,640.

Pure gold of 99.9 per cent purity dipped by Rs 145 to close at Rs 26,630 per 10 gm from Rs 26,775.

Silver ready (.999 fineness) eased by Rs 60 to settle at Rs 41,800 per kg from Rs 41,860 yesterday.

In overseas markets, gold moved down after a four-day gain due to profit booking by investors amid rise in dollar value.

In London, spot gold was bid lower at USD 1,276.71 an ounce in early trade, while silver was bid down at USD 19.81 an ounce.

First Published: Friday, July 12, 2013 07:11 PM
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