30 May '11, 2pm

Silver, gold decline on profit-taking

Mumbai, May 30 (PTI) Gold and silver went down at the domestic bullion market here today on moderate offerings by stockists and speculators. The recent sharp rise in the precious metals and absence of any major cues from overseas markets due to holidays there amidst subdued buying at existing levels encouraged investors as well as speculators to book profits, traders said. Silver ready (.999 fineness) dropped by Rs 370 per kg to close at Rs 57,630 from the week-end closing of Rs 58,000 per kg. Standard gold (99.5 purity) fell by Rs 45 per 10 grams to finish at Rs 22,520 against previous close of Rs 22,565 . Pure gold (99.9 purity) also eased by Rs 40 per 10 grams to conclude at Rs 22,625 as compared to Rs 22,665 last Saturday. PTI PAK EDM ABC 05301847 NNNN

Full article: http://sg.news.yahoo.com/silver-gold-decline-profit-takin...

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