Gold eases on profit-taking, silver ends higher

Gold prices witnessed a mild profit-taking at the bullion market on Monday due to selling by stockists and investors amid lack of buying interest at the existing levels on the back of lower global sentiment.

While silver held the cues and managed to gain marginally on speculative support.

Standard gold (99.5 purity) slipped by Rs 95 to end at Rs 29,800 per 10 gm, from last Saturday's closing level of Rs 29,895.

Pure gold (99.9 purity) also went down by Rs 110 to conclude at Rs 29,920 per 10 gm from Rs 30,030.

However, silver ready (.999 fineness) moved up by a mere Rs 5 per kg to finish at Rs 54,755 as compared to Rs 54,750 last weekend.

In Europe, gold were trading lower on losses in wider financial markets amidst profit-taking following weekends' biggest rally and was supported by speculation over Federal Reserve's new round of monetary easing.