Gold dips on subdued offtake, silver firms up

Gold eased slightly at the domestic bullion market here today on subdued offtake by stockists and jewellers amid volatile global markets.
However, silver strengthened on higher speculative and industrial demand.
Standard gold (99.5 purity) slipped by marginal Rs 5 to end at Rs 26,050 per 10 grams from Thursday's closing level of Rs 26,055.
Pure gold (99.9 purity) was also down by a similar margin to finish at Rs 26,200 per 10 grams from Rs 26,205.
However, silver (.999 fineness) climbed by Rs 160 to close at Rs 35,950 per kg as compared to Rs 35,790 previously.
In New York, gold lost ground following a rally in the US equities in late yesterday trade.

Gold for August delivery fell USD 4.30 to close at USD 1,159.20 an ounce. Meanwhile, September silver extended gains, up 20 cents to finish at USD 15.361 an ounce.