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Gold declines Rs 50 on poor demand; silver up

Marketmen said jewellers and stockists postponed their purchases, as gold is ruling at record-high levels, amid firming trend in international markets.

Gold prices on Monday fell Rs 50, to Rs 19,350 per ten grams, in the bullion market here, on lack of buying support at existing higher levels.

Silver, however, edged up Rs 20 to Rs 32,670 per kg on buying by industrial units.

Marketmen said jewellers and stockists postponed their purchases, as gold is ruling at record-high levels.

Trading sentiment remains weak despite firming trend in international markets, which normally set prices on the domestic front here, they said.

Gold of 99.9 and 99.5 per cent purity fell Rs 50, each, at Rs 19,350 and Rs 19,250 per ten grams, respectively, while sovereign held unchanged at Rs 15,200 per piece of eight grams in scattered small deals.

Silver ready gained Rs 20 to Rs 32,670 per kg, while weekly-based delivery declined Rs 15 to Rs 32,260 per kg.

Silver coins continued to be asked at previous levels of Rs 35,100 for buying and Rs 35,200 for selling of 100 pieces.