Silver followed suit to recapture the Rs 41,000-mark by climbing Rs 1,050 to Rs 41,350 per kg on increased offtake by industrial units and coin makers.
Symbol: SILVER| Contract: May, 2017| Category: Bullion
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Traders said demand weakness brought on by the end of wedding season at the domestic spot market kept up the heat.
Gold firmed up 0.31 per cent to $1,204.50 an ounce and silver 0.44 per cent to $17.02 an ounce in New York yesterday.
Gold prices saw a sharp downturn on Friday, plunging as much as Rs 400 to an over 2-month low of Rs 28,850 per 10 grams.
Marketmen said a weak trend overseas as investors anticipate higher borrowing costs in the US next week that strengthened the dollar and eroded demand for the precious metals as a safe-haven, mainly dampened the sentiment.
Traders said apart from a weak trend overseas, fall in demand from local jewellers and retailers following end of the marriage season mainly pulled down gold prices.
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