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Gold price falls for 2nd day to Rs 48,800/ 10 gm, silver at Rs 66,000 a kg

Gold price declined further to Rs 48,800 per 10 gm on Friday, extending yesterday's fall.
Silver price also fell by Rs 200 to trend at Rs 66,000 per kg, according to the Good Returns website.
Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes. In New Delhi, the price of 22-carat gold dropped by Rs 100 to Rs 47,800 per 10 gm, while in Chennai it inched up by Rs 50 to Rs 46,220. In Mumbai, the rate dropped to Rs 47,800 according to the website.
The price of 24-carat gold in Chennai was at Rs 50,620 per 10 gm. In the international market, Gold eased on Thursday as investors opted for the relative shelter of the US dollar from waning risk-on sentiment and after the US Federal Reserve expressed worries over the slow pace of economic recovery.

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