Gold prices turn soft, global cues

Gold prices slipped at the domestic bullion market here today, dampened by tepid demand from local jewellers amid bearish global cues.
Silver too dropped by Rs 255 per kg, dragged down by industrial units and coin makers.
Standard gold (99.5 purity) fell by Rs 40 to close at Rs 29,440 per 10 grams from Monday's closing level of Rs 29,480.
Pure gold (99.9 purity) also moved down by a similar margin to end at Rs 29,590 per 10 grams as against to Rs 29,630 previously.
Silver (.999 fineness) dipped by Rs 255 to finish at Rs 39,100 per kg as against Rs 39,355 yesterday.

Globally, Gold eased back from the previous day's six-week high as the dollar edged up ahead of a confirmation hearing for US Federal Reserve chair nominee Jerome Powell.
Spot gold was down 0.1 per cent at USD 1,293.21 an ounce at early trade.
Among other precious metals, silver was down 0.1 per cent at USD 17.01 an ounce.