Gold prices gain on steady buying amid strong overseas cues; silver prices slip

Gold prices climbed up at the bullion market in Mumbai on steady buying from stockists and retail consumers amid better international markets.

Prices of standard gold (99.5 purity) rose by Rs 95 to close at Rs 25,995 per 10 grams from Friday's closing level of Rs 25,900.

Pure gold (99.9 purity) prices also advanced by a similar margin to finish at Rs 26,145 per 10 grams from Rs 26,050.

Silver prices, however, slipped owing to speculative selling and reduced industrial demand.

Silver (.999 fineness) declined by Rs 65 per kg to conclude at Rs 36,140 as against Rs 36,205 previously.

In New York, gold prices edged slightly higher on some support as economic data of US producer price index cooled expectations of a Federal Reserve interest rate hike as early as June.

Gold for delivery in April climbed by 50 cents to settle at US $1,152.40 an ounce on Comex, while silver for May delivery fell 2.2 cents to US $15.494 an ounce.