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Gold, silver gain on steady buying

PTI  Mumbai, October 29, 2012
First Published: 18:32 IST(29/10/2012) | Last Updated: 18:35 IST(29/10/2012)

Gold prices moved up further at the domestic bullion market on Monday on steady demand from traders and good local buying interest due to wedding as well as fast approaching festivals.


Silver also rose on sustained speculative demand amid industrial off-take.

Standard gold (99.5 purity) advanced by Rs. 55 per 10 gm to close at Rs. 30,925 from last Saturday's closing level of Rs. 30,870.

Pure gold (99.9 purity) went up by Rs. 50 per 10 gm to finish at Rs. 31,065 from Rs. 31,015.

Silver ready (.999 fineness) firmed up by Rs. 105 per kg to conclude at Rs. 60,675 as compared to Rs. 60,570 previously.

In Europe, gold eased slightly amid cautiousness over global growth concerns and fall in broader financial markets coupled with investors readying for giant US hurricane.

Spot gold was bid down at $1,709.30 an ounce in early trade and silver was bid lower at $31.75 an ounce.

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