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Gold gains on festival buying, silver also advances

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Press Trust of India Mumbai

Silver also advanced on occasional off-take amid firm industrial demand.

Standard gold (99.5 purity) rose by Rs 50 per 10 gm to end at Rs 31,000 from Wednesday's closing level of Rs 30,950.

Pure gold (99.9 purity) also went up by a similar margin of Rs 50 per 10 gm to conclude at Rs 31,140 from Rs 31,090.

Silver ready (.999 fineness) climbed up by Rs 345 per kg to finish at Rs 61,205 as against Rs 60,860 yesterday.

In New York, gold firmed up on lower dollar amid increased optimism over solution to Europe's debt troubles.

Gold for December delivery rose USD 6.70 to USD 1,753.00 an ounce (around 28 gm) on the Comex division of the NYMEX late yesterday.

 

December silver contract added 27 cents to quote at USD 33.23 an ounce.

  

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First Published: Oct 18 2012 | 6:35 PM IST

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