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Gold prices climb Rs325 on global cues

LiveMint logoLiveMint 22-03-2017 PTI

Mumbai: Gold prices jumped by Rs325 per 10 grams at the bullion market on Wednesday on strong global cues and increased buying by jewellers.

Silver also soared by Rs305 to close at Rs41,560 per kg on renewed offtake from industrial units. Standard gold (99.5% purity) rose by Rs325 to finish at Rs28,800 per 10 grams from Tuesday’s closing value of Rs28,475.

Pure gold (99.9% purity) also climbed by a similar margin to end at Rs 28,950 per 10 grams as compared to Rs28,625 earlier.

Silver (.999 fineness) shot up by Rs305 per kg to conclude at Rs41,560 as against Rs41,255 earlier. Globally, gold prices rose to a three-week high as risk- averse investors dumped equities amid a weaker dollar and sought safe havens on growing doubts about US President Donald Trump’s economic agenda.

Also Read| Global gold prices hit 3-week peak as investors shun equities on Trump worries

Spot gold had risen 0.3% to $1,247.56 per ounce at early trade, after touching a three-week peak of $ 1,248.47. Spot silver was up 0.2% to $ 17.52 per ounce, after hitting a more than two-week high of $ 17.59 in the previous session.

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