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Gold prices rise further on local demand, silver gains

LiveMint logoLiveMint 25-09-2017 PTI

Mumbai: Gold prices moved up further at the bullion market on Monday on good investors’ offtake as well as mild local buying interest amid weak global cues. Silver also advanced on increased offtake by industrial units and coin makers.

Standard gold (99.5 purity) moved up by Rs110 to close at Rs29,735 per 10 grams from last Friday’s closing level of Rs29,625. Pure gold (99.9 purity) also rose by a similar margin to end at Rs29,885 per 10 grams as against Rs29,775 previously. Silver (.999 fineness) climbed by Rs60 per kg to close at Rs39,510 as compared to Rs39,450 earlier.

Globally, gold prices eased as the prospect of a fractured parliament in Germany following Chancellor Angela Merkel’s less than resounding election victory over the weekend knocked the euro lower.

Spot gold was down 0.1% at $1,295.50 an ounce at early trade. Silver was 0.1% higher at $16.98 an ounce.

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