Gold price slips by Rs 100 after hitting the demand bump

Mumbai-India (May 21)  Gold’s hat-trick of gains came to a standstill as the prices are dampened by Rs 100 to Rs 29,100 per 10 grams on Saturday, affected by local demand weakness, even as the metal-paced up overseas.
 
 Meanwhile, silver surged further by Rs 50 to Rs 39,200 per kg, driven by industrial units and coin makers.
 
 A fall in demand from local jewellers & retailers squeezed down gold prices, but a firm trend overseas kept the fall here to a minimum.
 
 Globally gold spiked 0.71% to USD 1,255.60 an ounce and silver by 1.66 % to USD 16.83 per ounce in New York on the previous day.
 
 Silver coins, however, were on hold at Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.

Source: HFL