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Silver prices soared on Monday but gold prices gave up early gains after US President Donald Trump signed into law the long-awaited pandemic aid bill.
A weaker US dollar also lent further support to bullion and silver prices.
Spot gold was trading 0.38 per cent lower at $1,876.22 per ounce at 3.35pm UAE time, after climbing more than 1 per cent to hit a one-week high of $1,900.26 earlier in the day.
US gold futures traded flat at $1,882.70. In August, gold hit an all-time high of $2,084 an ounce. Silver futures were trading 2.1 per cent higher at $26.46 per ounce, having risen 3.2 per cent earlier in the day.