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Gold drops Rs 125 on subdued demand, silver regains

Press Trust of India  |  Mumbai 

Gold prices today plunged by Rs 125 per 10 grams at the bullion market amid subdued demand from jewellers and retailers driven by weaker global cues.

While silver recovered following good speculative offtake and industrial demand.

Standard gold (99.5 purity) fell by Rs 125 to end at Rs 29,395 per 10 grams from Monday's level of Rs 29,520.

Pure gold (99.9 purity) also eased by a similar margin to close at Rs 29,545 per 10 grams against Rs 29,670, previously.

However, silver (.999 fineness) rose by Rs 95 per kg to finish at Rs 39,460 as compared to Rs 39,365 yesterday.

Globally, gold prices inched down, hurt by higher US Treasury yields amid uncertainty over the outlook for reforms in the United States.

Spot gold was down 0.1 per cent at USD 1,276.26 per ounce in early trade.

Among other precious metals, silver fell 0.1 per cent to USD 17.03 per ounce.

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

First Published: Tue, November 14 2017. 20:57 IST