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Gold prices continue to decline for the fourth day

LiveMint logoLiveMint 31-03-2017 PTI

Mumbai: Gold prices continued to fall on the bullion market on Friday due to stockists offerings on the back of lower global advices. Silver also dropped on lack of demand from industrial users amidst fall in prices in global market.

Standard gold (99.5 purity) moved down by 120 per ten grams to finish at Rs 28,625 from the yesterday’s closing level of 28,745. Pure gold (99.9 purity) also fell by a similar margin to close at Rs28,775 from Rs 28,895 per 10 grams on Thursday.

Silver (.999 fineness) also fell by 145 per kilo to end at Rs 42,365 from Rs 42,510.

In the New York market, gold futures settled lower yesterday adding to a monthly loss, as the US dollar regained its footing above a key technical level and equities traded mostly higher, drawing some investor attention away from the precious metal.

June gold which is now the most-active contract, fell $8.80 to settle at $1,248 an ounce. May silver ended at $18.206 an ounce, down 4.6 cents.

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