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Gold, silver prices turn weak on sluggish demand

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Press Trust of India Mumbai
Gold prices declined marginally at the domestic bullion market today due to subdued buying by stockists.

Silver also dropped owing to lack of demand.

Standard gold of 99.5 per cent purity shed Rs 65 to end at Rs 27,840 per 10 gm from last Saturday's closing level of Rs 27,905.

Pure gold of 99.9 per cent purity lost by Rs 65 to finish at Rs 27,985 per 10 gm from Rs 28,050.

Silver ready (.999 fineness) fell by Rs 185 to conclude at Rs 44,790 per kg compared to the weekend's closing level of Rs 44,975.

Globally, the shiny metal traded almost steady as investors turned cautious ahead of the Fed's meeting against the backdrop of stronger-than-expected US retail sales and jobs data.
 

Spot gold was bid up at USD 1,390.41 an ounce in early European trade.

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First Published: Jun 17 2013 | 6:35 PM IST

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