Silver slips from record high, gold moves up

MUMBAI: Silver prices slipped from its overnight record highs at the bullion market here today due to modest profit-taking by speculators despite rising overseas trend.
While, gold prices moved up further on the back of good local buying interest amidst festive offtake.
In New York , precious metals rose owing to weakening dollar on the back of instability in Arab countries and euro-zone debt concerns pushing the investors back to safe haven buying.
In the domestic market, silver ready (.999 fineness) eased by Rs 30 per kg to settle at Rs 56,870 from Thursday's closing level of Rs 56,900.
However, standard gold (99.5 purity) firmed up by Rs 30 per 10 grams to close at Rs 20,805 from yesterday's closing level of Rs 20,775.
Pure gold (99.9 purity) also looked up by a similar margin to finish at Rs 20,905 per 10 grams as against to Rs 20,875 previously.
In New York, gold for June delivery rose by USD 15 to end at USD 1,439.90 an ounce on the Comex division of the NYMEX.
May silver added 38 cents to USD 37.89 an ounce.

(Source: http://economictimes.indiatimes.com/markets/commodities/silver-slips-from-record-high-gold-moves-up/articleshow/7844866.cms)