Gold declines on subdued demand

Gold declines on subdued demand
PTI
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First Published: Thu, Jun 11 2009. 07 24 PM IST
Updated: Thu, Jun 11 2009. 07 24 PM IST
New Delhi: Gold prices on Thursday fell by Rs25 to Rs14,850 per 10 gram in the bullion market here on reduced offtake at existing higher levels, while silver held steady in restricted trade.
Standard gold and ornaments declined by Rs25 each to Rs14,850 and Rs14,700 per 10 gram, respectively. However, sovereign held steady at Rs12,400 per piece of eight gram.
Silver ready ruled flat at Rs23,000 per kg in scattered deals, while weekly-based delivery gained Rs5 at Rs23,690 per kg.
Silver coins continued to be asked around previous level at Rs29,500 for buying and Rs29,600 for selling of 100 pieces.
Marketmen said subdued demand at existing higher levels led to the fall in gold prices.
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First Published: Thu, Jun 11 2009. 07 24 PM IST
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