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Gold, silver fall on weak demand, global cues

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Press Trust of India Mumbai
Last Updated : Jun 14 2013 | 6:25 PM IST
Gold prices dropped at the domestic bullion market today amid weak demand and fall in prices in the international markets.
Silver also fell back on subdued industrial buying.
Standard gold of 99.5 per cent purity was down by Rs 190 to end at Rs 27,670 per 10 gm from Thursday's closing level of Rs 27,860.
Pure gold of 99.9 per cent purity lost by Rs 185 to finish at Rs 27,810 per 10 gm from Rs 27,995.
Silver ready (.999 fineness) declined by Rs 275 to close at Rs 44,335 per kg compared to previous closing of Rs 44,610.
Globally, the shiny metal retreated after stronger-than- expected US economic data fuelled speculation that Federal Reserve will begin to unwind its bullion-friendly bond-buying program in the coming months.
Gold for August delivery fell USD 14.20 to settle at USD 1,377.80 an ounce on the Comex division of the NYMEX late yesterday and July silver contract eased 22 cents to USD 21.58 an ounce.

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First Published: Jun 14 2013 | 6:25 PM IST

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