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Gold prices recover on renewed buying; silver surges

LiveMint logoLiveMint 20-09-2017 PTI

Mumbai: Snapping its two-day falling streak, gold prices recovered by Rs110 per 10 grams at the bullion market on Wednesday, tracking a firm trend overseas amid renewed buying by jewellers demand. Silver also rose by Rs410 per kg on good speculative offtake and industrial offtake.

Standard gold (99.5 purity) moved up by Rs110 to close at Rs29,800 per 10 grams from Tuesday’s closing level of Rs29,690. Pure gold (99.9 purity) also rose by a similar margin to end at Rs29,950 per 10 grams as against Rs29,840 previously. Silver (.999 fineness) climbed by Rs410 per kg to close at Rs39,865 as compared to Rs39,455 earlier.

Globally, gold prices rose, aided by a weaker dollar ahead of a US Federal Reserve policy announcement that could signal whether it will raise interest rates for a third time this year.

Spot gold was up 0.3% at $1,315.27 an ounce at early trade. In other precious metals, silver was up 0.3% at $17.38 an ounce.

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