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Gold regains 21,000-mark, silver slips

Gold gained Rs 20 to trade at Rs 21,000 per ten grams, a level last seen on December 6, while silver tumbled Rs 90 to Rs 46,840 per kg after climbing to a record on Monday.

twitter-logoPTI | January 4, 2011 | Updated 16:16 IST

Gold regained its crucial Rs 21,000 per ten grams level in the bullion market on Tuesday on emergence of buying by retail customers for the current marriage season, while silver fell from the record level.

Gold gained Rs 20 to trade at Rs 21,000 per ten grams, a level last seen on December 6, while silver tumbled Rs 90 to Rs 46,840 per kg after climbing to a record level of Rs 46,930 on Monday.

Trading sentiment in silver dampened, as stockists booked profits at existing higher levels in overseas and futures markets.

On the domestic front, silver ready met with resistance for the first time in three days and lost Rs 90 to Rs 46,840 per kg and weekly-based delivery by Rs 80 to Rs 46,370 per kg.

However, silver coins surged by Rs 500 to an all-time high of Rs 51,000 for buying and Rs 51,100 for selling of 100 pieces, spurred by hectic demand for the marriage season.

The coins are normally used for gifting purpose in marriage celebrations.

On the other hand, the gold of 99.9 and 99.5 per cent purity became more expensive by Rs 20, each, at Rs 21,000 and Rs 20,880 per ten grams, respectively. Sovereign followed suit and rose Rs 50 to the record level of Rs 16,950 per piece of eight grams.

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