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Bullion: Gold regained its sheen by rising Rs 55 to close

Silver also recaptured the Rs 39,000-mark due to increased offtake by industrial units and coin makers.

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at Rs 29,225 per ten grams at the bullion market during the week, tracking a firm trend overseas and emergence of buying by local jewellers.

Silver also recaptured the Rs 39,000-mark due to increased offtake by industrial units and coin makers.

Traders said besides firm trend overseas driven by a weaker dollar and the limited prospect of further hike in US interest rates, increased buying by local jewellers at domestic spot market, supported the recovery in the precious metal prices.

Globally, gold ended the week tad higher at USD 1,256.60 an ounce and silver at USD 16.68 an ounce in New York.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity commenced the week lower and eased further to Rs 29,000 and Rs 28,850 per 10 grams on lack of buying support.

Later, it staged a recovery backed up by positive global cues and buying by local jewellers and closed the week at Rs 29,225 and Rs 29,075 per 10 grams respectively, showing a gain of Rs 55 each.

Sovereign, however, moved in a narrow range in scattered deals and settled at last level of Rs 24,400 apiece for eight grams.

In step with gold, silver ready too ended the week higher by Rs 275 to Rs 39,075 per kg and weekly-based delivery by Rs 5 to Rs 38,485 per kg.

On the other hand, silver coins, moved in a narrow range in limited deals and settled at previous levels of Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces during the period.

 

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

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