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Gold prices stay steady, silver prices surge by Rs 335 per kg

LiveMint logoLiveMint 28-06-2017 PTI

Mumbai: Gold prices ruled steady in a largely quiet trade at the bullion market in Mumbai on Wednesday on mute offtake by jewellers and investors even as the rates firmed up overseas.

Silver prices surged by Rs 335 per kg on increased offtake by industrial units.

Standard gold (99.5 purity) closed at its overnight level of Rs 28,725 per 10 grams. Pure gold (99.9 purity) also settled at its previous level of Rs 28,875 per 10 grams.

Silver (.999 fineness) climbed by Rs 335 to finish at Rs 39,350 per kg compared to Tuesday’s close of Rs 39,015.

On the global front, gold prices rose as the dollar weakened and stock markets fell after a delayed US healthcare bill increased doubts about President Donald Trump’s ability to pass economic stimulus measures.

Spot gold was up 0.5% at $1,252.81 an ounce at early trade, while US gold futures were 0.5% higher at $1,253.60 an ounce. In other precious metals, spot silver was up 0.7% at $16.78 an ounce.

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