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Gold Prices Break Three-Day Rising Streak

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New Delhi: Gold prices went down by Rs. 40 to Rs. 31,650 per 10 grams at the bullion market on Saturday, driven by a weak trend overseas amid easing demand from local jewellers. However, silver held steady at Rs. 40,500 per kg on scattered deals from industrial units and coin makers.
Marketmen said that besides weak global cues, a fall in demand from local jewellers and retailers at existing levels in the domestic spot market, mainly weighed on the gold prices.

Globally, gold fell 0.22 per cent to $1,254.50 an ounce and silver by 0.12 per cent to $16.01 an ounce in New York on Friday.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs. 40 each to Rs. 31,650 and Rs. 31,500 per 10 grams, respectively.

The precious metal had gained Rs. 330 in the previous three days.

Sovereign, however, remained flat at Rs. 24,800 per piece of eight grams.

On the other hand, silver ready was unchanged at Rs. 40,500 per kg, while weekly-based delivery declined by Rs. 90 to Rs. 39,790 per kg.

Silver coins, however, continued to be enquired at last levels of Rs. 75,000 for buying and Rs. 76,000 for selling of 100 pieces.

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