Gold retreats from all-time highs

The standard gold prices retreated from its all-time highs, while pure gold maintained a steady trend on the bullion market in Mumbai on fresh selling by stockists and traders.

Silver also declined in the absence of demand from the industrial users. Gold made a fresh-record-high in early trade triggered by a sharp spurt in international markets.

After achieving its dream run towards the psychological 18-K level in overnight trade, the yellow-metal showed nervousness as cautious investors and speculators preferred to take out some profits at higher levels.

"Though there may be intermediate corrections, the glitter of the yellow-metal may continue as spiraling overseas cues due to depreciating dollar values would further push up the gold prices in domestic market", traders commented.

Standard gold (99.5 purity) eased by Rs 10 per ten grams to end at Rs 18,210 from Wednesday's closing level of Rs 18,220.It hit a fresh record high of Rs 18,255 in early trade.

Pure gold (99.9 purity), however, closed unchanged at at Rs 18,310 per ten grams. Silver ready (.999 fineness) fell by Rs 55 per kilo to finish at Rs 30,085 as against Rs 30,140 on Wednesday.

However, gold prices rallied to a fresh record highs above $1,225 an ounce in Europe after the dollar slid towards a 16-month low against the euro.