Gold edges higher on good seasonal push; silver declines

Gold prices edged up further at the bullion market here today on sustained festive and wedding season buying support despite sluggish overseas cues.
On the other hand, silver continued to witness selling owing to lacklustre demand from consuming industries.
Standard gold (99.5 purity) strengthened by Rs 50 to finish at Rs 26,740 per 10 grams from last Saturday's closing level of Rs 26,690.
Pure gold (99.9 purity) also moved up by a similar margin to end at Rs 26,890 per 10 grams against Rs 26,840 previously.
However, silver (.999 fineness) fell by Rs 60 to end at Rs 37,150 per kg compared to weekend level of Rs 37,210.

Globally, the yellow-metal retreated to trade below the key USD 1,200 mark following investors' selling despite aggressive easing measures from the world's second largest economy China over the weekend.
Spot gold was bid lower at USD 1,198.50 an ounce in early European trade, while spot silver was downn at USD 16.07 an ounce.