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Gold plunges Rs 170; silver jumps Rs 800
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«Domestic markets gold price came under pressure, causing strength in the rupee,» Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
However, silver jumped Rs 800 to Rs 75,300 per kilogram.
In the global markets, gold was down at USD 1,925 per ounce, while silver was trading higher at USD 23.70 per ounce.
Comex gold fell on the back of strong US macro data that stoked expectations that the Federal Reserve will pursue a higher-for-longer stance on interest rates, Gandhi said.
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