Gold price slips, settles at Rs 30,450 per 10 grams

New Delhi: Gold prices slipped by Rs 75 to Rs 30,450 per 10 grams on Friday due to lower jewellery demand.

A firm trend overseas however capped the slide.

In the national capital, gold of 99.9 percent and 99.5 percent purity went down by Rs 75 each to Rs 30,450 and Rs 30,300  per 10 grams respectively. It had lost Rs 100 yesterday.

Sovereign, however, remained unchanged at Rs 24,700 per piece of eight grams in restricted deals.

Silver ready too declined by Rs 100 to Rs 40,550 per kg and weekly-based delivery by Rs 60 to Rs 39,590

In Mumbai, gold prices, however, recovered marginally to close at Rs 29,460 per 10 grams today due to mild demand from stockists and retailers amid bullish global cues.

Standard gold (99.5 purity) edged up by Rs 15 per 10 grams to settle at Rs 29,460 as against Thursday's closing level of Rs 29,445.

Pure gold (99.9 purity) also moved up by a similar margin to end at Rs 29,610 per 10 grams against Rs 29,595 earlier.

Globally, gold rose today as the dollar softened on uncertainty about the progress of what would be the biggest overhaul of US taxes since the 1980s.

Spot gold was up 0.6 percent at USD 1,285.39 per ounce. It is up 0.7 percent for the week, poised to post a second straight weekly gain.

US gold futures for December delivery rose 0.6 percent to USD 1,285.50.