Tuesday , August 22 2017
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Gold slips by Rs 45 on subdued demand, silver rises

Mumbai: Gold prices declined at the bullion market here today due to weak demand from jewellery stockists while silver firmed up further on persistent buying by industrial users. Standard gold (99.5 purity) declined by Rs 45 to finish at Rs 28,860 per 10 gram, from its overnight closing level of Rs 28,905 per 10 gram.

Pure gold (99.9 purity) also slipped by a similar margin to end at Rs 29,010 per 10 gram compared to Rs 29,055 per 10 gram previously. silver (.999 fineness) rose by Rs 310 to finish at Rs 42,465 per kg from its yesterday’s close of Rs 42,155. Globally, gold prices held steady near one-month highs supported by political and economic uncertainty in the United States and expectations of a lower dollar.

Spot gold was little changed at USD 1,253.41 an ounce at early trade, after touching its highest in a month at USD 1,261.03 on Monday. US gold futures inched down 0.2 per cent to USD 1,253.30. Spot silver fell 0.2 per cent to USD 18.04 per ounce.