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Gold, silver slip on selling, weak global cues

New Delhi, PTI | Updated : 04 July 2013, 08:18 PM

Gold prices slipped at the bullion market here on Thursday after a two-session surge following profit taking by investors and traders amid subdued overseas cues.

Silver also encountered moderate speculative selling on the back of reduced industrial demand.

Standard gold of 99.5 per cent purity fell by Rs 50 to close at Rs 26,270 per 10 gm from Wednesday's closing level of Rs 26,320.

Pure gold of 99.9 per cent purity also dropped by a similar margin to end at Rs 26,410 per 10 gm from Rs 26,460.

Silver ready (.999 fineness) dipped by Rs 280 to conclude at Rs 41,870 per kg as against Rs 42,150 yesterday.

Investor sentiment towards the yellow metal remained guarded on recovering rupee as well as wavering international markets, dealers said.

Globally, gold declined as investors awaited for the results of European Central Bank meeting (ECB) and key US jobs data on Friday.

In London, spot gold was bid lower at USD 1,248.61 an ounce in early trade and silver bid down at USD 19.59 an ounce.

First Published: Thursday, July 04, 2013 03:59 PM

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