Gold prices declined on the bullion market here on Monday, mainly due to profit-taking by stockists and investors amid subdued local buying interest and sluggish European cues.
Silver also witnessed heavy unwinding from traders. Standard gold of 99.5 per cent purity slipped by Rs 70 to end at Rs 27,370 per 10g from last Saturday’s close of Rs 27,440. Pure gold of 99.9 per cent purity also fell by a similar margin of Rs 70 to finish at Rs 27,495 per 10g from Rs 27,565 previously.
Silver plunged by Rs 970 to conclude at Rs 52,260 a kg, compared to Rs 53,230 last weekend. In Europe, gold prices edged lower on concern over a worsening euro zone crisis amid fears of downgrading France and six other euro zone countries by Fitch Ratings.
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