Gold price maintains momentum amid seasonal offtake; silver eases

Gold prices advanced further at the domestic bullion market due to sustained demand from stockists as well as good local buying support.

Mumbai: Gold prices advanced further at the domestic bullion market due to sustained demand from stockists as well as good local buying support.

On the other hand, silver declined marginally after a three-session rally on subdued industrial demand.

Standard gold (99.5 purity) edged up by Rs 15 to settle at Rs 26,395 per 10 grams from its overnight closing level of Rs 26,380.

Pure gold (99.9 purity) also gained by a similar margin to end at Rs 26,545 per 10 grams compared to Rs 26,530.

However, silver (.999 fineness) moved down by Rs 60 to finish at Rs 37,2 per kg compared to Rs 37,105 yesterday.

Globally, the yellow metal slipped below the key important USD 1,200-level, as investors turned a bit nervous ahead of the much-anticipated US employment data later.

Spot gold was a bid lower at USD 1,199 an ounce in the early European trade.

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