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Gold fell by Rs 500, silver by Rs 1,100

Gold prices fell by Rs 500 per 10 grams and silver by Rs 1,100 per kg at domestic level due to pressure on both the precious metals overseas. In the MCX futures market, gold fell by Rs 512, or 1.03 per cent, to Rs 49,089 per 10 grams. Gold Mini also declined by Rs 437 to Rs 48,912 per 10 grams.
Silver fell by Rs 1,100, or 1.41 percent, to sell at Rs 71,578 per kg. Silver Mini slipped by Rs 1,022 to Rs 71,664 per kg.
In the international market, spot gold fell by $ 16.80 to $ 1,891.60 an ounce. US gold futures for August also fell by $ 15.60 to $ 1,894.30 an ounce. Silver spot fell by $ 0.38 to sell at $ 27.78 an ounce.