Gold slips on reduced demand, global cues

Gold prices slipped at the bullion market here today on reduce offtake from stockists and investors amid subdued local buying interest on the back of lower global cues.
However, silver extended its gain and added Rs 155 per kg following sustained buying from industrial users.
Standard gold (99.5 purity) declined by Rs 95 to end at Rs 29,060 per 10 grams from yesterday's level of Rs 29,155.
Pure gold (99.9 purity) also moved down to close at Rs 29,210 per 10 grams as compared to Rs 29,305.
Silver (.999 fineness) rose by Rs 155 per kg to finish at Rs 38,375 from Rs 38,220 yesterday.

Globally, gold fell from the previous day's three-week high as European stocks jumped after upbeat Chinese trade data allayed concerns over the outlook for its economy, and as the dollar regained some poise.
Spot gold was down 0.9 percent at USD 1,244.25 an ounce in early European trade, while US gold futures for June delivery were down USD 14.00 an ounce at USD 1,246.90.
Among other precious metals, silver was down 0.7 per cent at USD 16.04 an ounce, after hitting a 5-1/2-month high of USD 16.21 on Tuesday.