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Gold today held the biggest weekly gain in three months as concern about slowing growth in emerging markets spurred demand for the safe-haven. Gold increased to $1,116.39 an ounce. It rebounded 3.6 per cent since reaching a five-year low on July 24. Silver was little changed at $15.27 an ounce. Meanwhile, gold climbed 1.9 per cent last week after China weakened the Yuan in a move that supports exports, triggering fears of competitive currency devaluations.
Gold prices rallied at the domestic bullion market here on good investors off take as well as local buying interest amid bullish global cues. While, silver slipped on speculative profit-booking after its recent rally amid reduce industrial buying. Standard gold (99.5 purity) climbed by Rs 110 to close at Rs 25,840 per 10 grams from last Friday's closing level of Rs 25,730.
Oil prices dipped again in early Asian trading on Tuesday as traders expected lower refinery consumption after the US summer, while Asia's weakening economies and high global production raised concerns about oversupply. US crude futures CLc1 were trading at USD 41.84 per barrel at 0014 GMT, 3 cents below their last settlement and not far off more than six-year lows touched earlier this week.
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Gold today held the biggest weekly gain in three months as concern about slowing growth in emerging markets spurred demand for the safe-haven. Gold increased to $1,116.39 an ounce. It rebounded 3.6 per cent since reaching a five-year low on July 24. Silver was little changed at $15.27 an ounce. Meanwhile, gold climbed 1.9 per cent last week after China weakened the Yuan in a move that supports exports, triggering fears of competitive currency devaluations.
Gold prices rallied at the domestic bullion market here on good investors off take as well as local buying interest amid bullish global cues. While, silver slipped on speculative profit-booking after its recent rally amid reduce industrial buying. Standard gold (99.5 purity) climbed by Rs 110 to close at Rs 25,840 per 10 grams from last Friday's closing level of Rs 25,730.
Oil prices dipped again in early Asian trading on Tuesday as traders expected lower refinery consumption after the US summer, while Asia's weakening economies and high global production raised concerns about oversupply. US crude futures CLc1 were trading at USD 41.84 per barrel at 0014 GMT, 3 cents below their last settlement and not far off more than six-year lows touched earlier this week.
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