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Gold price bullish on sustained demand, silver eases

Gold prices continued to march ahead at the domestic bullion market today on sustained demand from stockists and traders as well as good local buying interest.

While, silver eased modestly on speculative selling.

Standard gold of 99.5 per cent purity strengthened by Rs 285 to end at Rs 28,500 per 10 gm from Monday’s closing level of Rs 28,215.

Pure gold of 99.9 per cent purity hardened by Rs 280 to finish at Rs 28,635 per 10 gm from Rs 28,355.

However, silver ready (.999 fineness) moved down by Rs 45 to conclude at Rs 41,930 per kg from Rs 41,975 yesterday.

‘Stockist are vying for the yellow metal supplies due to import control amid fast approaching festivities, dealers said.

Globally, gold slipped as dollar steadied and investors turned cautious ahead of Federal Reserve meeting over US stimulus programme.

In London, spot gold was bid down at USD 1,324.01 an ounce in early trade and silver bid lower at USD 19.66 an ounce.


Gold eases after 4 days of gains as dollar firmsArticle source:

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