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Gold plunges by Rs 70 on lacklustre demand

Press Trust of India  |  Mumbai 

prices slumped by Rs 70 per 10 grams at the domestic market here today due to poor offtake by stockists and retailers.

Elsewhere, silver also dipped owing to subdued demand from consuming industries.

Standard (99.5 purity) slipped by Rs 70 to end at Rs 30,485 per 10 grams from its overnight closing of Rs 30,555.

Pure (99.9 purity) also fell by a similar margin to end at Rs 30,635 per 10 grams as compared to Rs 30,705 earlier.

Silver (.999 fineness) declined by Rs 375 per kg to settle at Rs 38,360 from it's Wednesday's finish of Rs 38,735.

Globally, steadied as uncertainty ahead of a policy meeting and further on US trade tariffs kept the in a narrow range, though a stronger dollar pressured prices.

Spot was at USD 1,325.69 an ounce at early trade.

Silver was down 0.2 per cent at USD 16.47 an ounce.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 08 2018. 18:45 IST