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Gold edges up on stray buying, silver slips

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Press Trust of India Mumbai
Last Updated : Jan 24 2013 | 2:11 AM IST

Silver, however, dropped further owing to sustained speculative unwinding amid subdued industrial off-take.

Standard gold (99.5 purity) gained Rs 14 to settle at Rs 29,535 per 10 grams from overnight closing level of Rs 29,520.

Pure gold (99.9 purity) also moved up by a similar margin to end at Rs 29,670 per 10 gm from Rs 29,655 yesterday.

However, silver ready (.999 fineness) fell by Rs 110 per kg to conclude at Rs 53,210 from Friday's close of Rs 53,320.

On the overseas front, gold tumbled below the USD 1,600 level on weaker-than-expected US jobs growth data, fuelling an across the board sell-off in equities and commodities.

Gold for August delivery plunged by USD 30.50 to finish at USD 1,578.90 an ounce on the Comex division of the NYMEX late yesterday.

Silver for September contract declined by 75 cents to close at USD 26.92 an ounce.

  

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First Published: Jul 07 2012 | 4:05 PM IST

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