Gold prices down Rs 1,700 from highs, silver rates also fall

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Gold prices today rose after suffering a massive fall in previous session

Gold and silver prices continue to slide from their last week highs. On MCX, October gold futures prices were down 0.26% to rs38,154 on Wednesday extending their losses to rs 1,730 per 10 g after hitting a high of rs 39,885 last week. Silver prices also continued their flip from new highs.

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Silver futures on MCX on Wednesday were off by 0.23% to rs 47,686 per kg, down es 3,800 per kg from recent highs of rs 51,489. Improved risk sentiment has pushed down global yellow metal prices from over $1,550 an ounce to below $1,500, hurting the domestic prices. On Wednesday gold was trading at $1,491 an ounce in the global markets. In the spot market, yellow metal prices fell rs 372 to rs 38,975 per 10 g in Delhi market. Silver prices also tumbled rs 1,150 to rs 48,590 per kg.

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