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Gold price falls on lower demand, Silver gains

Mumbai June 7: Gold prices slipped marginally by Rs. 5 per 10 grams to finish at Rs. 30,665 at the bullion market here today following lower demand from stockists and retailers even as the metal strengthened overseas.
Silver strengthened by Rs. 250 per kg to Rs. 39,545 on sustained offtake from industrial units.
Standard gold (99.5 per cent purity) moved down by Rs. 5 to close at Rs. 30,665 per 10 grams from Tuesday's closing level of Rs. 30,670.    
Pure gold (99.9 per cent purity) also edged down by a similar amount to close at Rs. 30,815 per 10 grams compared to Rs. 30,820, yesterday.
However, silver (.999 fineness) rose by Rs. 250 to conclude at Rs. 39,545 per kg as against Rs. 39,295, previously.
Globally, gold edged higher, propped up by a weaker dollar but it was unlikely to make a significant move before an expected US rate hike next week. Spot gold was up 0.1 per cent at $1,296.96 per ounce at early trade.