MUMBAI: Gold prices declined marginally from yesterday's historical peak of Rs 14,705 on lack of demand coupled with mild profit-booking at
higher level from stockists on the back of weak trend in overseas markets.
Silver prices also eased on poor demand from industrial users.
Gold prices slipped in London as fears of financial meltdown receded on reports that the US administration was working a programme to subsidise mortgages for homeowners, but analysts expected a brief respite from the maelstrom.
Rising hopes of financial stability prompted a bout of profit-taking which took spot gold to a low of USD 932.80 an ounce. It was quoted at $934.80/936.80 an ounce from $945.05 late New York on Thursday.
In the domestic market, standard gold (99.5 purity) slipped by Rs 30 per ten grams to Rs 14,675 from Rs 14,705 yesterday.
Pure gold (99.9 purity) moved down by a similar margin to Rs 14,740 from Rs 14,770 previously.
Silver ready (.999 fineness) eased to Rs 21,340 per kilo from Rs 21,370.
