Gold advances further on local demand

Mumbai: Gold prices advanced further on the bullion market due to persistent local buying interest despite lower New York advices.

Silver also firmed up on renewed demand from industrial users.

In New York, gold futures edged lower on Friday after rallying near USD 1,000 an ounce in the previous session, as a jobs report that fell largely in line with expectations curbed gold's safe-haven appeal.

December gold futures, slid by USD 1 to end at USD 996.70 an ounce on the Comex division of the New York Mercantile Exchange.

Silver for December delivery fell slightly to end at USD 16.285 an ounce.

In the domestic market, standard gold (99.5 purity) firmed up further by Rs 50 per ten grams to Rs 15,785 from yesterday's closing level of Rs 15,735.

Pure gold (99.9 purity) also moved up by the same margin to Rs 15,855 per ten grams from Rs 15,805 previously.

Silver ready (.999 fineness) hardened by Rs 150 per kilo to Rs 25,790 as aganist Rs 25,640 yesterday.