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Post  RaahiShah on Mon Jul 23, 2012 3:19 pm

PRECIOUS METAL WRAP: As gold price falls to Rs 29,200 per 10 gm, scrap sales of gold have dwindled by almost 50% in the Indian market in the last one week. Buyers are slowly returning to the market mostly in the coin and bar space. The demand in gold jewellery is expected to pick up from the end of July on account of the ensuing festive season.

Silver, the standout performer of early 2011 will likely fail to revisit the peaks of last year as a dearth of fresh investment puts a heavy drag on prices. Silver prices, which averaged $31 in the first half of the year, are expected to average $31 an ounce in the third quarter, rising to $33.01 in the last three months of the year.
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