Gold prices recover on renewed demand, silver declines further

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Gold prices recovered by Rs 65 per 10 grams at the bullion market today followed renewed demand from stockists and investors driven by bullish global cues.

However, silver drifted lower by another Rs 135 per kg due to subdued offtake from consuming industries.

Standard gold (99.5 purity) climbed by Rs 65 to end at Rs 27,415 per 10 grams from last Friday's level of Rs 27,350.

Pure gold (99.9 purity) also gained by a similar margin to finish at Rs 27,565 per 10 grams from Rs 27,500.

However, silver (.999 fineness) dipped by Rs 135 per kg to conclude at Rs 39,720 as against Rs 39,855 last Friday.

Globally, gold futures tipped higher early today, stabilising after suffering a sixth weekly loss in a row and touching the lowest level in more than 10 months last week.

Gold for February delivery rose to USD 1,141.30 an ounce. Last week, gold shed about 1.8 per cent.

March silver slipped 11 cents at USD 16.11 an ounce.

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