ENM: Gold, silver fall on reduced offtake, global cues
Gold, silver fall on reduced offtake, global cues
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MUMBAI: Gold prices slipped at the bullion market here today on poor offtake from stockists and investors as well as subdued local buying interest at existing levels.
Silver also declined following speculative selling amid lower industrial buying.
Standard gold (99.5 purity) dropped by Rs 260 to close at Rs 31,090 per 10 gm from last Friday's closing level of Rs 31,350.
Pure gold (99.9 purity) dipped Rs 275 to end at Rs 31,225 per 10 gm from Rs 31,500.
Silver ready (.999 fineness) slid by Rs 335 per kg to conclude at Rs 61,805 as against Rs 62,140 previously.
In Europe, gold declined on investors profit-selling after its strongest quarterly gain amid caution ahead of US employment report later this week.
Spot gold bid lower at USD 1,767.89 an ounce in early trade, while spot silver was bid down at USD 34.37 an ounce.
