Gold prices eased further for the second consecutive day on the bullion market on Friday on persistent stockists offerings on the back of fall in the global markets.Silver also eased further on poor industrial buying. Gold prices declined for a third day in London as a stronger dollar reduced demand for the metal as an alternative investment. Gold for immediate delivery lost $4.39 an ounce to $949.56 in the early trade.
August gold futures slipped to USD950.30 an ounce in the comex division of the New York Mercantile Exchange. Silver for immediate delivery in London lost to $15.14 an ounce.
In the local market, standard gold (99.5 purity) declined further by Rs 30 per ten grams to Rs 14,615 from Rs 14,645 previously.
Pure gold (99.9 purity) also moved down by Rs 25 per ten grams to Rs 14,685 from Rs 14,710 yesterday. Silver ready (.999 fineness) softened by Rs 25 per kilo to Rs 23,250 from Rs 23,275 previously.
August gold futures slipped to USD950.30 an ounce in the comex division of the New York Mercantile Exchange. Silver for immediate delivery in London lost to $15.14 an ounce.
In the local market, standard gold (99.5 purity) declined further by Rs 30 per ten grams to Rs 14,615 from Rs 14,645 previously.
Pure gold (99.9 purity) also moved down by Rs 25 per ten grams to Rs 14,685 from Rs 14,710 yesterday. Silver ready (.999 fineness) softened by Rs 25 per kilo to Rs 23,250 from Rs 23,275 previously.
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