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KARACHI - Gold price slipped by Rs 217 to close at Rs 48,857 per 10 grams in the local market Wednesday, market sources said. According to Karachi Sarafa Association official, tola (11.664 grams) price also declined by Rs 250 to Rs 57,000. Silver closed unchanged at Rs 805.71 per 10 grams. Reuters adds from London: Gold prices eased as the euro ran into profit-taking and stock markets dipped, with the previous day’s burst of sharper risk appetite running out of steam after German economic data fell short of expectations. Lingering speculation that the European Central Bank will soon take action to tackle the euro zone debt crisis limited falls in both the euro and gold, but the metal failed to sustain Tuesday’s rise above $1,610 an ounce.
