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Gold slides on weak demand, global uncertainty

Last Updated: Wednesday, June 19, 2013 - 21:25

Mumbai: Gold prices retreated at the domestic bullion market Wednesday due to reduced stockists as well as investment buying amid bearish global sentiment.

On the other hand, silver firmed up further on steady industrial support.

Standard gold of 99.5 percent purity shed Rs 100 to conclude at Rs 27,925 per 10 gm from Tuesday's closing level of Rs 28,025.

Pure gold of 99.9 percent purity also fell by a similar margin to end at Rs 28,070 per 10 gm from Rs 28,170.

Silver ready (.999 fineness), however edged higher by Rs 50 to finish at Rs 45,050 per kg compared to Rs 45,000 yesterday.

On the global front, yellow-metal traded slightly higher amid caution ahead of the Federal Reserve policy meet outcome later today.

Spot gold was bid up at USD 1,368 an ounce in early European trade.


First Published: Wednesday, June 19, 2013 - 21:25
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