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Gold snaps 3-day rally on stockists selling

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Press Trust of India Mumbai
Last Updated : May 08 2015 | 6:28 PM IST
Gold retreated modestly after a three-session surge on the domestic bullion market due to fresh bout of selling by stockists and investors.
Silver also dropped on lack of demand from industrial users.
Standard gold (99.5 purity) fell by Rs 90 to finish at Rs 26,880 per 10 grams from Thursday's closing level of Rs 26,970.
Pure gold (99.9 purity) also shed by a similar margin to settle at Rs 27,030 per 10 grams compared to Rs 27,120.
Silver (.999 fineness) slipped by Rs 130 to settle at Rs 38,020 per kilo from overnight level of Rs 38,150.
In worldwide trade, the shiny metal regained some lost ground on short-covering, though gains were capped ahead of much awaited US Non-farm payrolls data later today.
Spot gold was higher at USD 1,185.20 an ounce in early European trade, while was held little changed at USD 16.29 an ounce.

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First Published: May 08 2015 | 6:28 PM IST

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