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  1. Gold ends flat, silver slips on poor buying

Gold ends flat, silver slips on poor buying

Gold edged lower in listless trade for the third session at the bullion market here today due to lack of buying interest from stockists and retailers.

By: | Mumbai | Published: August 24, 2016 7:03 PM
Standard gold (99.5 purity) eased by Rs 5 to close at Rs 31,445 per 10 grams from Tuesday's level of Rs 31,450. (Reuters) Standard gold (99.5 purity) eased by Rs 5 to close at Rs 31,445 per 10 grams from Tuesday’s level of Rs 31,450. (Reuters)

Gold edged lower in listless trade for the third session at the bullion market here today due to lack of buying interest from stockists and retailers.

Silver slipped Rs 425 per kg on speculative selling following subdued offtake by industrial units.

Standard gold (99.5 purity) eased by Rs 5 to close at Rs 31,445 per 10 grams from Tuesday’s level of Rs 31,450.

Pure gold (99.9 purity) also moved down by a similar margin to finish at Rs 31,595 per 10 grams as against Rs 31,600 yesterday.

Silver (.999 fineness) dropped by Rs 425 to conclude at Rs 45,225 as compared to Rs 45,650 previously.

Globally, gold held steady as investors took to the sidelines ahead of a speech by Federal Reserve chair Janet Yellen this weekend which will be closely watched for further clues on interest rate policy.

Spot gold was at USD 1,337.06 an ounce in early trade, little changed from USD 1,337.35 an ounce late on Tuesday.

Spot silver was up 0.5 percent at USD 18.88, off a more than seven-week low of USD 18.77 touched on Monday.

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