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Gold prices plunged by Rs 350 to Rs 71,350 per 10 grams in the national capital on Wednesday amid a fall in the precious metal in the overseas markets.
In the previous session, gold of 99.9 per cent purity closed at Rs 71,700 per 10 grams on Tuesday.
However, silver prices bounced back after four straight days of massive decline. Silver rose by Rs 200 to Rs 82,200 per kilogram from Rs 82,000 per kg in the previous trade, according to the All India Sarafa Association.
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