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Gold, silver slip on lower offtake

Press Trust of India  |  Mumbai 

Gold prices slipped at the bullion market here today on lower offtake from stockists and investors amid subdued local buying interest.

Elsewhere, silver also declined following speculative selling and lackluster industrial demand.

Standard gold (99.5 purity) dipped by Rs 110 to finish at Rs 25,285 per 10 grams from yesterday's closing level of Rs 25,395.

Pure gold (99.9 purity) also declined to end at Rs 25,435 per 10 grams as compared to Rs 25,545.

Silver (.999 fineness) also moved down by Rs 315 per kg to finish at Rs 34,715 from Rs 35,030 earlier.

Globally, gold dipped to its lowest level in nearly six years in early European trade and remained under pressure from a firm dollar and prospects of an hike in the US next month.

Spot gold fell 0.7 per cent to USD 1,063.75 an ounce, its lowest since February 2010, while silver was also down 1.1 per cent to USD 14.10 an ounce.

First Published: Fri, November 27 2015. 18:58 IST