Gold prices gain further at domestic bullion market, silver prices fall

Gold prices gained further at the domestic bullion market in Mumbai on sustained demand from jewellery stockists and retailers, on 6 January.

However, silver snapped its 3-day winning spree and declined following speculative selling amid reduced industrial offtake.

Standard gold (99.5 purity) rose by Rs 135 to close at Rs 28,335 per 10 grams from Thursday's level of Rs 28,200.

Pure gold (99.9 purity) also moved up by a similar margin to end at Rs 28,485 per 10 grams as compared to Rs 28,350 on 5 January.

Silver (.999 fineness) fell by Rs 80 per kg to Rs 40,620 as against Rs 40,700 previously.

Globally, gold slipped from a one-month high touched in the previous session as traders cut bets on higher prices ahead of US jobs data that will offer clues on the pace of possible US interest rate hikes this year.

Spot gold was down 0.4 per cent at USD 1,175.99 per ounce in early trade.

Among other precious metals, spot silver was down 0.1 per cent at USD 16.45, having hit a peak of USD 16.71, its highest since December 15, in the previous session.

-PTI