ENM: Gold decline on stockists offloading, silver improves
MUMBAI: Gold prices declined on the bullion market here today on emergency of selling by stockists at higher levels.
While, silver moved up on good industrial demand. Meanwhile in Tokyo, gold stayed above the USD 1,000 an ounce as the dollar remained pressured after last week's jobs data pushed the currency down broadly on concerns the US economy recovery may not be as robust as expected earlier.
Spot gold inched up 0.2 per cent to USD 1,003.55 an ounce in early trade.
Turning to the local market, Standard gold (99.5 purity) declined by Rs 75 per ten grams to Rs 15,560 from last weekend's closing level of Rs 15,635.
Pure gold (99.9 purity) also fell by Rs 80 per ten grams to Rs 15,635 as against Rs 15,715.
However, silver ready (.999 fineness) looked up by Rs 35 per kilo to Rs 26,425 from Rs 26,390 previously.
