Gold slips on lower demand, silver surges

Gold prices slipped marginally at the domestic bullion market here today due to lower demand from stockists and retailers despite higher global cues.
Silver, on the other hand, surged further owing to sustained industrial offtake.
Standard gold (99.5 purity) moved down by Rs 10 to finish at Rs 27,135 per 10 grams from Tuesday's closing level of Rs 27,145.
Pure gold (99.9 purity) also fell by a similar margin to close at Rs 27,285 per 10 grams from Rs 27,295.
However, silver (.999 fineness) advanced by Rs 525 to conclude at Rs 39,015 per kg as compared to Rs 38,490 yesterday.

On the global front, gold rose in early trade as the dollar weakened ahead of US employment data and investors pushed back expectations over when the Federal Reserve will start raising interest rates.
Spot gold rose to USD 1,196.71 an ounce in early trade, after touching its highest in one week at USD 1,198.10 and silver also moved up to USD 16.74 an ounce.