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Gold prices drop, silver rules stable

LiveMint logoLiveMint 30-05-2017 PTI

Mumbai: Gold prices dropped at the domestic bullion market on Tuesday on subdued offtake from stockists and jewellers coupled with lack of local buying interests, even as it strengthened overseas.

Silver prices, however, held steady in the absence of any large scale buying activity.

Standard gold prices fell by Rs30 to close at Rs 28,850 per 10 gram from Monday’s finish of Rs 28,880.

Pure gold (99.9 purity) also fell by a similar margin to settle at Rs 29,000 per 10 grams as compared to Rs 29,030 on Monday.

While, silver (.999 fineness) closed unchanged from its Monday’s level of Rs 40,360 per kg.

Globally, gold steadied after setting a one-month high as rising political uncertainty in Europe stoked safe haven demand.

Spot gold touched a one-month high of $1,270.47 before pulling back 0.2 per cent to $1,263.77 per ounce at early trade.

Among other precious metals, silver marked its highest level since April 27 at $17.47 an ounce. It was last flat at $17.36.

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