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Gold strengthens further on global cues, silver drops

Press Trust of India  |  Mumbai 

Gold prices gained further at the domestic bullion market here today, tracking a firm trend overseas and sustained demand from jewellery stockists.

However, silver eased on lower industrial demand.

Standard gold (99.5 purity) rose by Rs 65 to close at Rs 29,415 per 10 grams from Thursday's level of Rs 29,350.

Pure gold (99.9 purity) also moved up by a similar margin to end at Rs 29,565 per 10 grams as compared to Rs 29,500 yesterday.

Silver (.999 fineness) eased by Rs 15 per kg to Rs 43,255 as against Rs 43,270 previously.

Globally, gold crept higher as investors opted for the safe haven due to uncertainty over the US and European politics as well as the direction of stock markets.

Spot gold gained 0.2 percent to USD 1,241.66 per ounce at early trade.

Spot silver dipped 0.4 percent to USD 18.01 an ounce.

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

First Published: Fri, February 17 2017. 18:42 IST