Gold rises on fresh demand, silver slips further

Gold prices recovered here today on fresh local buying interest from stockists and retail investors amidst bullish global cues.
On the other hand, silver dropped further on mild selling by stockists and retailers on the back of lower demand from industrial users.
Standard gold (99.5 purity) rose by Rs 126 to quote at Rs 28,615 per 10 grams at 1700 hrs from Monday's level of Rs 28,489, a bullion trader said.
Pure gold (99.9 purity) also firmed up by a similar margin to Rs 28,765 per 10 grams from Rs 28,639 previously, according to Riddisiddhi Bullions Ltd.
However, silver (.999 fineness) declined by Rs 68 to Rs 42,909 per kg at 1700 hrs from Rs 42,977 previously.

Globally, gold climbed back above USD 1,300 an ounce late yesterday to settle at its highest level in two weeks as the dollar moved lower and news coming out of Ukraine continued to rattle investors.
Gold for June delivery rose by USD 10.80 to settle at USD 1,309.10 an ounce late yesterday on the Comex division of the NYMEX and May silver contract added 15 cents to close at USD 20.057 an ounce.