Gold, silver decline in listless trade

MUMBAI: Gold prices declined moderately in listless activity at the domestic bullion market today on modest profit-taking by stockists and traders, amid subdued local buying interest at the existing levels.

Silver also slipped owing to speculative selling. Standard gold of 99.5 per cent purity moved down by Rs 50 to end at Rs 28,470 per 10 gm from last Saturday's closing level of Rs 28,520.

Pure gold of 99.9 per cent purity eased by Rs 85 to close at Rs 28,580 per 10 gm from Rs 28,665.

Silver ready (.999 fineness) went down by Rs 110 to finish at Rs 42,400 per kg from Rs 42,510 last weekend.

In overseas markets, gold managed to hold above $ 1,300 an ounce as the dollar softened after mixed US data's last week led investors cautious over whether Federal Reserve would start to scale back its stimulus next month.

In London, spot gold bid unchanged at $ 1,310.71 an ounce in early trade, while, silver bid down at $ 19.84 an ounce.