Gold tumbles on global cues

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Gold prices went down further by Rs150 to Rs27,450 per ten grams at the bullion market Saturday dragged down by a weak trend overseas and sluggish demand from jewellers. Silver also declined by Rs375 to Rs38,800 per kg on reduced offtake by industrial units and coin makers. Marketmen attributed the fall in gold prices to a weak global trend as strengthening $ reduced its demand amid gains in US inflation boosted concern that the economy is doing well enough for the Federal Reserve.

Daily Pioneer
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