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Gold, silver recover on smart buying

Precious metals which were under heavy selling pressure throughout the week gained moderately on the back of buying by stockists and investors.

Gold, silver recover on smart buying

Gold and silver prices regained some of the lost ground at the domestic bullion market here today on the back of fresh buying emerging at lower levels.
    
Precious metals which were under heavy selling pressure throughout the week gained moderately on the back of buying by stockists and investors.
    
Silver ready (.999 fineness) recouped by Rs1,780 per kg to close at Rs56,085 from Friday's closing level of Rs54,305.
    
Standard gold (99.5 purity) rose by Rs130 per 10 grams to end at Rs21,815 from overnight closing level of Rs21,685.
    
Pure gold (99.9 purity) also went up by Rs135 per 10 grams to finish at Rs21,920 as compared to Rs21,785 previously.
    
In New York, gold managed to recover from Thursday's steep fall but silver failed to sustain intra-day rise and fell back on thin trade.
    
Gold for June delivery gained by $10.20 to $1,491.60 an ounce.
    
However, silver for July delivery declined by $2.63, to $35.29 an ounce on the Comex division of NYMEX.

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