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BULLION: The precious metals, gold and silver snapped

Marketmen said easing demand from jewellers and retailers at existing levels mainly kept pressure on gold and silver prices.

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its three-week gains at the bullion market, on reduced offtake due to holiday-truncated week despite firm global trend.

Marketmen said easing demand from jewellers and retailers at existing levels mainly kept pressure on gold and silver prices.

However, silver witnessed bouts of buying and selling by stockists and investors and finally ended stable towards the fag end.

The bullion market was closed on Friday on account of "Mahashivrati".

In worldwide trade, gold logged its highest finish in more than three-and-half months, and for a fourth straight week of gains, as the metals complex was boosted by a softer dollar.

Safe-haven demand rose amid growing concerns about geopolitics and the Federal Reserve s lack of commitment to lift benchmark interest rates also helped to support higher prices in the precious metals.

The firm gains for the metals came as the dollar softened on indications US President Donald Trump s tax and other pro-business policy plans would be implemented at a slower-than-expected pace.

The yellow-metal for the week, the metal gained 1.6 per cent, which marks a fourth straight weekly advance, while the white-metal gained 1.7 per cent, for the week for a ninth week of advances in a row. (MORE)

 

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

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