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Gold continues to hit new highs, silver slips

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Press Trust of India Mumbai

In contrast, silver declined further due to sustained profit-taking by speculators amid lower industrial demand.

Standard gold (99.5 purity) edged up by Rs 10 to settle at Rs 30,035 per 10 gm from Friday's closing level of Rs 30,025.

Pure gold (99.9 purity) also gained by a similar margin to end at Rs 30,175 per 10 gm from Rs 30,165 previously.

However, silver ready (.999 fineness) fell by Rs 85 per kg to conclude at Rs 55,155 as compared to Rs 55,200 yesterday.

On the global front, gold extended gains on fresh monetary stimulus hopes amid weak US economic data. But cautiousness ahead of Greek elections restricted the precious metal's surge.

 

Gold for August delivery advanced by USD 8.50 to close at USD 1,628.10 an ounce at the Comex division of the NYMEX yesterday, while silver July contract added 33 cents to finish at USD 28.74 an ounce.

  

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First Published: Jun 16 2012 | 4:05 PM IST

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