Gold Price Dips Below Rs 89,000 Mark

The price of gold slipped below Rs 89,000 per 10 grams in Delhi on Friday due to reduced domestic demand.

According to the All India Sarafa Association, gold of 99.9% purity dipped by Rs 200 to Rs 88,900 per 10 grams, marking its second consecutive day of decline. Similarly, gold of 99.5% purity also decreased by Rs 200 to Rs 88,500 per 10 grams.

Traders attributed the fall in gold prices to reduced demand from local jewellers and retail buyers.

However, silver prices climbed by Rs 500 to Rs 99,500 per kilogram, extending gains for the fourth consecutive day. In the past four sessions, silver had advanced by Rs 3,100.

On the futures market, gold for April delivery slipped by Rs 50 to Rs 85,983 per 10 grams on the Multi Commodity Exchange.

Globally, gold futures were trading flat at $2,929.30 per ounce.

Spot gold rose $10.14 or 0.35% to $2,921.94 per ounce.

Silver futures, however, quoted 0.17% lower at $33.28 per ounce in Asian market hours.

(With Inputs From PTI)