Gold prices yesterday declined 500 rupees at Multi Commodity Exchange for August contracts. The precious metal was trading at around 58,800 rupees per ten grams. Silver lost 1,644 rupees to trade at around 71,000 rupees per kilogram for July Contracts when reports last came

In the global markets, Gold was trading lower at 1,946 dollars and 20 cents per ounce at the New York Mercantile Exchange. Silver was also trading lower at 23 dollars and 44 cents per ounce in intra-day trade. 

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