Gold prices slip on profit-selling; silver gains

New Delhi, May 22. Gold prices today slipped by Rs 30 to Rs 27,020 per ten grams as a result of profit-selling by stockists in the bullion market here. On the other hand, Silver prices rose due to high demand from industrial units and added Rs 100 to Rs 44,300, after a surge of Rs 2,030 in the previous session. Traders said profit-selling by stockists at prevailing higher levels mainly led to decline in gold prices, which had strengthened by Rs 680 yesterday. Experts said sustained buying in silver by industrial units and coin makers helped the metal to gain further. On the domestic front, gold of 99.9 and 99.5 per cent purity slipped by Rs 30 each to Rs 27,020 and Rs 26,820 per ten grams, respectively. Sovereign remained steady at Rs 23,700 per piece of eight gram in limited deals. Silver ready strengthened by Rs 100 to Rs 44,300 per kg and weekly-based delivery surged by Rs 990 to Rs 44,365 per kg on increased buying by speculators. Silver coins continued to be asked around previous level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces in restricted buying.