Gold eases in lacklustre trade, silver recovers

MUMBAI: Gold prices eased further in lacklustre activity at the domestic bullion market today, following subdued buying interest from traders and investors at the existing levels.

However, silver recovered on fresh speculative off-take amidst industrial buying.

Standard gold (99.5 purity) went down by Rs 10 to close at Rs 29,880 per 10 grams from last Saturday's closing level of Rs 29,890.

Pure gold (99.9 purity) moved down by Rs 20 to finish at Rs 30,010 per 10 grams from Rs 30,030.

However, silver ready (.999 fineness) rose by Rs 85 per kg to conclude at Rs 53,415 as against Rs 53,330 last weekend.

In Europe, gold declined on lower euro amidst cautiousness ahead of central bank meetings later this week over combating the euro zone debt crisis.

Spot gold was bid down at $1,618.09 an ounce in early trade and silver was bid lower at $27.64 an ounce.