Gold edges lower on poor buying, silver rebounds


MUMBAI: Gold slipped further at the domestic bullion market here due to poor offtake from stockists and weak local buying interest on the back of lower global cues.

Silver however recouped marginally following fresh speculative buying.

Standard gold (99.5 purity) eased by Rs 30 to close at Rs 26,865 per 10 grams from Friday’s close of Rs 26,895.

Pure gold (99.9 purity) also moved down by a similar margin to finish at Rs 27,015 per 10 grams as compared to Rs 27,045 earlier.

Silver (.999 fineness) rose by Rs 50 to end at Rs 37,670 per kg as against Rs 37,620 yesterday.

Globally, gold prices slipped yesterday as a recovering dollar pulled them off a 3-1/2 month high, after gaining in recent sessions on bets against a US interest rate hike.

US gold futures for December delivery settled down at USD 1,182.10 an ounce and silver eased to USD 16.03 an ounce.

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