Mumbai: Gold prices slipped at the domestic bullion market here on June 1 on sluggish buying by stockists and jewellery buying largely driven by lower global sentiment. Silver also witnessed profit-taking amid reduced industrial offtake.
Standard gold (99.5 purity) fell by Rs 100 to end at Rs 26,800 per 10 grams from last Saturday's closing level of Rs 26,900. Pure gold (99.9 purity) also declined by a similar margin of Rs 100 per 10 grams to finish at Rs 26,950 per 10 grams from Rs 27,050. Silver (.999 fineness) went down by Rs 90 to conclude at Rs 38,675 per kg as compared to Rs 38,765 last weekend.
Globally, gold traded lower in Europe following the dollar surge versus the basket currencies and the prospect of higher US interest rates looming, but uncertainty over the Greek debt crisis limited losses. In London, spot gold was down 0.3 per cent at USD 1,186.46 an ounce in early trade. Silver was also trading 0.3 per cent lower at USD 16.65 an ounce.
