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Gold prices drifted lower by Rs 110 to Rs 31,180 per 10 grams at the bullion market, tracking a weak trend overseas amid slackened demand from local jewellers.
In This Pic : Gold
Pic Courtesy : BCCL
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Silver also fell below the Rs 39,000-mark by falling Rs 150 to Rs 38,950 per kg due to reduced offtake by industrial units and coin makers.
In This Pic : Gold
Pic Courtesy : BCCL
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Traders said sentiment turned bearish after gold fell in global markets as the dollar remained firm, with investors expecting the US Federal Reserve to raise interest rates at this week's policy meeting.
In This Pic : Gold
Pic Courtesy : BCCL
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Globally, gold fell by 0.33 per cent to USD at 1,309.30 an ounce and silver by 0.61 per cent to USD 16.23 an ounce in Singapore.
In This Pic : Gold
Pic Courtesy : BCCL
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Besides, tepid demand from local jewellers and retailers in the domestic spot market due to off-wedding season too fuelled the downtrend.
In This Pic : Gold
Pic Courtesy : BCCL
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