Standard gold, silver slip on profit-booking, global cues

Mumbai, Nov 5: Standard gold and silver witnessed profit-taking after three-day rally at the domestic bullion market here today on moderate stockists' as well speculative selling amid lower jewellery offtake.

In contrast, pure gold maintained the rising trend owing to mild buying by the investors. Standard gold (99.5 purity) declined by Rs 70 per 10 grams to end at Rs 27,900 from Friday's closing level of Rs 27,970. Silver ready (.999 fineness) dropped by Rs 250 per kg to finish at Rs 56,575 from Rs 56,825 yesterday.

However, pure gold (99.9 purity) gained by Rs 25 per 10 grams to close at Rs 28,130 compared to Rs 28,105 previously. In New York, gold fell on strong dollar though losses were limited on continued concerns of eurozone crisis and mixed US economic data. In New York, gold for December delivery was down USD 9.40 to USD 1,755.70 an ounce on the Comex division of the Nymex late yesterday. December silver was fell by 41 cents to USD 34.08 an ounce.


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