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Gold dips on reduced offtake, silver eases

Gold dips on reduced offtake, silver eases
PTI
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First Published: Fri, Jul 16 2010. 07 08 PM IST
Updated: Fri, Jul 16 2010. 07 08 PM IST
Mumbai: Gold prices declined further at the bullion market here on Friday due to reduced seasonal offtake as well as lower stockists buying amidst bearish European cues.
Silver, also eased on mild stockists offering.
Standard gold (99.5 purity) dropped by Rs45 per ten grams to finish at Rs18,395 from the Thursday’s closing level of Rs18,440.
Pure gold (99.9 purity) fell by Rs40 per ten grams to end at Rs18,485 as against Rs18,525 on Thursday.
Silver ready (.999 fineness) moved down by Rs25 per kilo to settle at Rs29,675 from Rs29,700 previously.
In Europe, spot gold was bid at $1,205.55 an ounce in early trade as against $1,207.75 late in New York on Thursday.
US gold futures for August delivery were down $2.40 to $1,205.90.
Spot silver was bid at $18.24 an ounce against $18.26.
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First Published: Fri, Jul 16 2010. 07 08 PM IST
More Topics: Gold | Bullion | Silver | Commodity | Markets |