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Gold prices face global heat, fall by Rs 80

LiveMint logoLiveMint 28-03-2017 PTI

New Delhi: Gold prices softened by Rs 80 to Rs 29,350 per 10 grams on Tuesday, mainly on account of a sluggish trend overseas. However, silver strengthened by another Rs 200 to Rs 42,200 per kg backed by increased offtake by industrial units and coin makers.

Traders attributed the slide in gold prices to a weak trend overseas, but scattered buying by local jewellers following beginning of an auspicious week of ‘Navratras’ limited the fall.

Globally, gold fell 0.14% to $1,252.10 an ounce in Singapore. In the national capital region, gold of 99.9% and 99.5% purity declined by Rs 80 each to Rs 29,350 and Rs 29,200 per 10 grams, respectively.

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The precious metal had gained Rs 100 on Monday. Sovereign, however, remained unaltered at Rs 24,400 per piece of eight grams.

On the other hand, silver ready rose further by Rs 200 to Rs 42,200 per kg and weekly-based delivery recaptured the 42,000-mark by surging Rs 335 to Rs 42,070 per kg. Silver coins in thin trading remained unchanged at Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.

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