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Gold prices slip slightly on global cues

LiveMint logoLiveMint 20-07-2017 PTI

Mumbai: Snapping its three-day winning spree, gold prices slipped modestly by Rs25 per 10 grams at the bullion market in Mumbai on Thursday on subdued offtake from investors and stockists driven by sluggish international markets.

Silver also moved down on speculative selling and mute industrial buying. Standard gold (99.5 purity) declined by Rs25 to end at Rs28,185 per 10 grams from Wednesday’s closing level of Rs28,210.

Pure gold (99.9 purity) also eased by a similar margin to finish at Rs28,335 per 10 grams as against Rs28,360 Wednesday.

Silver (.999 fineness) also moved down by Rs 35 per kg to conclude at Rs 37,445 from Rs 37,480 previously. In Europe, gold declined as the dollar firmed ahead of a European Central Bank (ECB) meeting which will be watched for signs of officials moving away from an ultra-loose monetary policy.

Spot gold fell 0.2% at $1,238.04 an ounce in early trade.

Spot silver was down 0.4% to $16.17 an ounce.

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