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Gold prices climb on positive global cues

LiveMint logoLiveMint 23-06-2017 PTI

Mumbai: Gold prices surged further by Rs 95 per ten grams at the bullion market here on Friday on positive global cues amid jewellers’ buying.

Silver also extended its gains for the second day by gaining Rs 320 per kg on hectic demand from industrial units and coin makers.

Standard gold prices (99.5 purity) climbed Rs 95 to close at Rs 28,790 per 10 grams from Thursday’s closing level of Rs 28,695.

Pure gold prices (99.9 purity) also rose by a similar margin to conclude at Rs 28,940 per 10 grams from Rs 28,845. Silver (.999 fineness) spurted by Rs 320 to end at Rs 38,960 per kg as against Rs 38,640 on Thursday.

Globally, gold prices climbed to one-week highs, boosted by a lower dollar and economic and political uncertainty around the world, but the prospect of further interest rate rises in the United States, limited gains. Spot gold was up 0.6% at $1,257.1 an ounce in early trade after earlier touching $ 1,258.00, its highest since 14 June.

Elsewhere, silver gained 1.4% to $16.75 an ounce.

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