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  1. Gold extend gains on jewellers buying, silver declines

Gold extend gains on jewellers buying, silver declines

Supported by sustained buying from jewellers and retailers and a firming trend overseas, gold prices rose by Rs 145 per ten grams at the bullion market here today.

By: | Mumbai | Published: May 13, 2016 7:35 PM
gold Supported by sustained buying from jewellers and retailers and a firming trend overseas, gold prices rose by Rs 145 per ten grams at the bullion market here today. (Reuters)

Supported by sustained buying from jewellers and retailers and a firming trend overseas, gold prices rose by Rs 145 per ten grams at the bullion market here today.

However, silver prices continued to dip below the Rs 41K level by tumbling Rs 270 per kg on poor offtake by industrial units.

Standard gold (99.5 purity) climbed by Rs 145 to end at Rs 29,880 per 10 grams from Thursday’s level of Rs 29,735.

Pure gold (99.9 purity) also rose by a similar margin to close at Rs 30,030 per 10 grams compared to Rs 29,885.

However, Silver (.999 fineness) dropped by Rs 270 per kg to conclude at Rs 40,995 against Rs 41,265 previously.

Globally, Gold rose one percent as European equities fell, but further gains were curtailed by a stronger dollar, backed by anticipation of an improvement in the US economy.

Spot gold rose to a session high of USD 1,276.20 an ounce and was up 0.9 per cent at USD 1,274 in early trade, after dropping 1.1 per cent on Thursday.

Spot silver advanced 0.6 percent to USD 17.09 an ounce.

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Tags: Gold

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