Silver slips on stockists offering, gold gains

Mumbai: Silver prices declined at the bullion market here on Thursday, due to offering by stockists at the higher levels amid easing trend in overseas market.

Gold, however, moved up further, owing to good local buying interest on the back of marriage season demand.

Silver ready (.999 fineness) went down by Rs 110 per kg to close at Rs 45,975 from Wednesday`s closing level of Rs 46,085.

However, standard gold (99.5 per cent purity) firmed up by Rs 35 per 10 grams to conclude at Rs 20,230 from Rs 20,195 yesterday.

Pure gold (99.9 per cent purity) also gained by a similar margin to end at Rs 20,330 as compared to Rs 20,295.

In Europe, gold lost some ground on strengthening dollar and limited demand from Asia.

Spot gold was bid at USD 1,358.06 an ounce in early trade as against USD 1,362.89 late in New York yesterday.

Spot silver was bid at USD 29.89 an ounce as against USD 30.17.