Gold edges up on fresh buying, silver declines

Mumbai: Gold prices edged up at the domestic bullion market here on mild demand from jewellery stockists and traders.

Silver declined following speculative selling and lacklustre industrial offtake.

Standard gold (99.5 purity) moved-up by Rs 5 to end at Rs 28,345 per 10 grams from yesterday's level of Rs 28,340.

Pure gold (99.9 purity) also rose by a similar margin to close at Rs 28,495 per 10 grams against Rs 28,490 yesterday.

However, silver (.999 fineness) dropped by Rs 60 per kg to finish at Rs 36,930 compared to Rs 36,990 previously.

Globally, gold steadied as a retreat in equities and the dollar supported the metal after its biggest quarterly rise in nearly 30 years, but moves were muted ahead of key US payrolls data.

Spot gold was at USD 1,231.78 an ounce in early trade, little changed from USD 1,231.95 late on Thursday.
Silver was down 0.1 per cent at USD 15.40 an ounce.