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Gold bounces back on jewellers' buying, silver drops

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Press Trust of India Mumbai
Gold regained its glitter at the bullion market here today on fresh buying by local jewellers to meet wedding season demand even as the metal weakened overseas.

However, silver declined by Rs 195 per kg on lack of buying support from industrial units.

Standard gold (99.5 purity) surged by Rs 70 to finish at Rs 30,305 per 10 grams from yesterday's closing level of Rs 30,235

Pure gold (99.9 purity) also rose to end at Rs 30,455 per 10 grams as compared to Rs 30,385 earlier.

Silver (.999 fineness) declined by Rs 195 per kg to finish at Rs 39,190 from Rs 39,385 yesterday.

Globally, gold fell for the second straight session, hitting its lowest in a week, as the dollar strengthened and US bond yields rose, while traders awaited the outcome of the US Federal Reserve's policy meeting for cues on interest rate hikes this year.

Spot gold was down 0.4 per cent at USD 1,335.49 per ounce at early trade after a 0.7 percent drop in the previous session.

Among other precious metals, silver slipped 0.2 per cent to USD 17.12 an ounce.

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First Published: Jan 30 2018 | 6:05 PM IST

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