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Gold, silver extend gains on rising demand

Press Trust of India  |  Mumbai 

price maintained its rising trend for the third day at the domestic bullion market here today due to consistent buying support from jewellers and retail consumers.

Silver to attracted increased buying support from industrial units and surged Rs 100 per kg.

Standard (99.5 purity) spurted by Rs 610 to end at Rs 28,895 per 10 grams against Wednesday's closing level of Rs 28,285.

Pure (99.9 purity) also added a similar margin to settle at Rs 29,045 per 10 grams from Rs 28,435 earlier.

Silver (.999 fineness) surged by Rs 100 to finish at Rs 39,580 per kg against Rs 39,480 yesterday.

Globally, gold prices weakened after touching a more than two-week high, weighed down by profit-taking amid political turmoil in the United States.

Spot gold was down 0.2 per cent at USD 1,258.02 per ounce at early trade, after earlier touching its strongest since May 1 at USD 1,263.02. The yellow metal settled higher in the five previous sessions.

Among other precious metals, silver slipped 0.6 per cent to USD 16.75 an ounce.

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

First Published: Thu, May 18 2017. 17:48 IST