Gold Prices Lose Shine Amid Weak Domestic Demand: 5 Things To Know
Gold prices fell today amid a slowdown in local demand and weak global cues, reported news agency Press Trust of India (PTI). Poor demand from local jewellers and weak global cues exerted pressure on the yellow metal, traders were quoted as saying in the PTI report. Gold prices fell by Rs 320 to close at Rs 32,220 per 10 gram at the bullion market in New Delhi. Silver rates, however, gained on increased demand from industrial units and coin makers.
Here are five things to know about gold, silver trade today:
1. In the national capital, gold of 99.9 per cent and 99.5 per cent purities fell by Rs 320 each to Rs 32,220 and Rs 32,070 per 10 gram, respectively. On Wednesday, gold prices had fallen by Rs 110 to close at Rs. 32,540 per 10 gram. Â
2. Sovereign gold, however, held steady at Rs 25,000 per piece of 8 gram.
3. Silver ready surged by Rs 250 to Rs 38,800 per kg, while weekly-based delivery was up by Rs 170 to Rs 38,351 per kg. Besides, silver coins remained unchanged at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.
4. Globally, gold prices were little changed as the dollar steadied and equities climbed on signs of easing trade tensions between the United States and China.
5. Spot gold and US gold futures were steady at $1,245.74 per ounce and $1,250.3 per ounce, respectively, as of 0657 GMT or 12:27 pm IST, reported news agency Reuters. (With agencies inputs)
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