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Gold prices slip on lacklustre demand

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Gold prices declined at the domestic bullion market here today due to reduced stockists offtake as well as modest profit-taking by investors.

Silver also dropped sharply owing to heavy speculative selling.

Standard gold (99.5 purity) fell by Rs 85 to close at Rs 27,315 per 10 grams from Tuesday's level of Rs 27,400.

Pure gold (99.9 purity) shed by Rs 90 to settle at Rs 27,460 per 10 grams as compared to Rs 27,550.

Silver (.999 fineness) slumped by Rs 210 to conclude at Rs 39,475 per kg against overnight close of Rs 39,685.

On the global front, the shiny metal rose to the highest level in six-weeks on concerns over cooling global economy after China's third-quarter growth plunged to multi-year low.
Spot gold was trading at USD 1,248.61 an ounce in early European trade. 

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