Gold eases on reduced demand, silver edges down

Gold prices eased at the bullion market here today due to lack of local buying interest coupled with mild offering from stockists.

Gold prices eased at the bullion market here today due to lack of local buying interest coupled with mild offering from stockists.

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Silver, also edged lower on sluggish industrial offtake.

Standard gold (99.5 purity) moved down by Rs 20 per ten grams to end at Rs 18,495 from last Saturday's closing level of Rs 18,515.

Pure gold (99.9 purity) also looked down by Rs 25 per ten grams to finish at Rs 18,580 as against Rs 18,605 previously.

Silver ready (.999 fineness) softened by Rs 20 per kilo to settle at Rs 29,315 from Rs 29,335.

Meanwhile, in London, Spot gold was bid at $1,210.15 an ounce in early trade as against $1,206.95.

Silver was bid at $17.82 an ounce as against $17.75.