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Gold, silver advances on good buying

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Press Trust of India Mumbai
Gold prices advanced to one-month high at the domestic bullion market today on stepped-up demand from stockists and investors, mainly triggered by higher global cues.

Silver also rose on sustained speculative off-take on the back of increased industrial buying.

Standard gold of 99.5 per cent purity gained Rs 100 to close at Rs 29,695 per 10 gm from Monday's closing level of Rs 29,595.

Pure gold of 99.9 per cent purity strengthened by Rs 105 to finish at Rs 29,835 per 10 gm as compared to Rs 29,730 yesterday.

Silver ready (.999 fineness) climbed by Rs 245 to conclude at Rs 54,980 per kg from Rs 54,735 previously.
 

Overseas, gold traded in narrow-band as traders took to the sidelines ahead of a vote in the Cypriot parliament on a controversial bailout plan.

In Europe, spot gold bid at USD 1,602.20 an ounce in early trade, silver was bid up at USD 28.86 an ounce.

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First Published: Mar 19 2013 | 6:45 PM IST

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