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Gold Eases On Reduced Jewellery Offtake, Silver Declines

Mumbai, Nov 15: Gold prices eased from all-time record high at the domestic bullion market here today on reduced stockists and jewellery buying at existing higher levels on the back of bearish overseas market.Silver also

PTI [ Updated: November 15, 2011 18:42 IST ]
gold eases on reduced jewellery offtake silver declines
gold eases on reduced jewellery offtake silver declines

Mumbai, Nov 15: Gold prices eased from all-time record high at the domestic bullion market here today on reduced stockists and jewellery buying at existing higher levels on the back of bearish overseas market.


Silver also encountered hectic speculative profit-taking amidst subdued industrial offtake.

Standard gold (99.5 purity) moved down by Rs 50 per 10 grams to end at Rs 28,900 from Monday's close of Rs 28,950, and Pure gold (99.9 purity) also slipped by Rs 60 per 10 grams to finish at Rs 29,025 as compared to Rs 29,085 yesterday.

Silver ready (.999 fineness) slumped by Rs 430 per kg to conclude at Rs 57,500 as against Rs 57,930 previously.

In London, gold fell on strong dollar, following sell-off in equities amidst cautiousness over deepening Eurozone debt crisis.

Gold was bid down at USD 1,765.19 an ounce in early trade and silver quoted lower at USD 33.90 an ounce.

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