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Gold softens on lower demand, silver extend losses

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Press Trust of India Mumbai

Silver slipped further on continued profit-taking from speculators on the back of subdued industrial off-take.

Standard gold (99.5 purity) eased by Rs 45 to end at Rs 29,065 per 10 gm from Monday's closing level of Rs 29,110.

Pure gold (99.9 purity) also fell by Rs 50 to settle at Rs 29,200 per 10 gm from Rs 29,250.

Silver ready (.999 fineness) slid by Rs 185 per kg to conclude at Rs 54,355 from Rs 54,540 yesterday.

In Europe, gold declined on weaker euro ahead of informal EU meet by European leaders on tackling debt crisis.

Spot gold was bid lower at USD 1,576 an ounce in early trade and silver was bid down at USD 28.12 an ounce.

 

  

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First Published: May 22 2012 | 6:15 PM IST

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