Monday, November 29, 1999

Gold moves down on poor demand, silver slips

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Mumbai, June 17 (PTI) Gold prices declined at the bullion market here today due to lack of buying interest at higher levels coupled with global cues. Silver also moved downwards on reduced offtake from consumer industries. Standard gold (99.5 purity) moved down by Rs 30 per ten grams to finish at Rs 18,690 from yesterday''s closing level of Rs 18,720. Pure gold (99.9 purity) also looked down by a similar margin to settle at Rs 18,780 per ten grams from Rs 18,810 previously. Silver ready (.999 fineness) fell by Rs 100 per kilo to close at Rs 29,705 from Rs 29,805 yesterday. In New York, gold for August delivery lost by USD 3.90 to USD 1,230.50 an ounce on the COMEX division of the NYMEX. Silver for July delivery went down 14 cents to USD 18.44 an ounce.

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