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Gold slips on lower demand, silver firms up

Press Trust of India  |  Mumbai 

prices slipped modestly by Rs 50 per 10 grams at the domestic market here today following weak demand from stockist and retailer.

While, silver rose further by Rs 15 per kg owing to mild offtake by industrial users.

Standard (99.5 purity) fell by Rs 50 to end at Rs 31,045 per 10 grams from Wednesday's closing of Rs 31,095.

Pure (99.9 purity) also moved down by a similar margin to finish at Rs 31,195 per 10 grams as compared to Rs 31,245 previously.

However, silver (.999 fineness) moved up by Rs 15 per kg to Rs 38,770 as against Rs 38,755 yesterday.

Globally, gold slipped from an 11-week high early today as the dollar gained and investors booked profits, but rising tensions over military escalation in prevented further losses.

Snapping a four-day winning streak, spot gold fell to USD 1,347.03 an ounce in early European trade. US gold futures fell 0.7 percent to USD 1,350.20.

Among other precious metals, silver fell to USD 16.58 an ounce after hitting its highest in nearly two months at USD 16.87 in the previous session.

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

First Published: Thu, April 12 2018. 18:30 IST