Spot gold was down 0.3 per cent at USD 1,212.50 an ounce in early trade.
Mumbai: Gold prices declined at the bullion market today on lack of demand from jewellery stockists, while silver firmed up further on persistent buying from industrial users.
Standard gold (99.5 purity) declined by Rs 50 per 10 grams to finish at Rs 29,235, from its overnight closing level of Rs 29,285. Pure gold (99.9 purity) also slipped by a similar margin to end at Rs 29,385 per 10 grams compared to Rs 29,435 previously.
Silver (.999 fineness) rose by Rs 110 to finish at Rs 41,910 per kg from yesterday's close of Rs 41,800. Globally, gold retreated from the previous day's eight-week high as a rebound in the dollar ahead of US inflation data and a speech by Federal Reserve chair Janet Yellen prompted some buyers to cash in gains.
Spot gold was down 0.3 per cent at USD 1,212.50 an ounce in early trade. Silver was down 0.2 per cent to USD 17.13 an ounce.