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Gold, silver turn weak on sluggish local demand, bearish global cues

Globally, gold fell 0.11 per cent to $1,220.80 an ounce and silver by 0.21 per cent to $14.46 an ounce

Gold

Gold shed Rs 50 to Rs 32,100 per 10 gram at the bullion market on Monday because of slackened demand from local jewellers amid a weak trend overseas. Silver, too, weakened by Rs 50 to Rs 38,100 per kg.  Traders said fall in demand from local jewellers and retailers and bearish trend overseas, after comments from Federal Reserve officials showed caution over the global economy, prompting investors to reassess the pace of future US interest rate hikes, mainly kept pressure on gold prices. Globally, gold fell 0.11 per cent to $1,220.80 an ounce and silver by 0.21 per cent to ...