Mumbai, Oct 13 (PTI) Gold drifted lower by Rs 120 per 10grams at the bullion market here today following subdueddemand from stockists and investors.
Silver also declined by Rs 85 per kg on slow offtake byindustrial units.
Standard gold (99.5 purity) dropped by Rs 120 to close atRs 29,675 per 10 grams from Thursday's level of Rs 29,795.
Pure gold (99.9 purity) also dipped by a similar marginto finish at Rs 29,825 per 10 grams compared Rs 29,945yesterday.
Silver (.999 fineness) fell by Rs 85 per kg to end atRs 39,855 as compared to Rs 39,940 previously.
Globally, gold was on track for its first weekly rise infive weeks ahead of US inflation data later in the day thatcould give clues on the pace of US interest rate rises.
Spot gold was flat at USD 1,293.81 an ounce at earlytrade after touching a high of USD 1,298.32.
Silver was up 0.4 per cent at USD 17.24 an ounce afterhitting a three-week high of USD 17.32. PTI RDABM.
This is unedited, unformatted feed from the Press Trust of India wire.