Gold Prices Break 3-Day Rising Streak: 5 Things To Know

Gold prices on Tuesday slumped by Rs 235 to Rs 32,980 per 10 grams due to lacklustre demand from jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver too fell by Rs 660 to Rs 38,010 per kg on low offtake by industrial units and coin makers. Reduced demand from local jewellers as well as retail buyers led to the slide in gold prices, said the PTI report citing traders. On Monday, the yellow metal rose by Rs 425.

Here are 5 things to know about gold, silver prices:

1. Globally, gold prices rose on Tuesday and were hovering close to their highest in more than a week touched in the previous session as the dollar eased on weak US economic data, with the metal gaining further support from higher oil prices, reported news agency Reuters.

2. Spot gold was up 0.3 per cent at $1,300.47 per ounce, in intraday trade. The metal touched an intra-day high of $1,303.61, highest since March 28, in the previous session. US gold futures were up 0.1 per cent at $1,303 an ounce.

3. In Delhi, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 235 each to Rs 32,980 and Rs 32,810 per 10 gram, respectively.    

4. However, sovereign gold held steady at Rs 26,400 per piece of eight grams.    

5. Silver ready witnessed a fall of Rs 660 to Rs 38,010 per kg, while weekly-based delivery gained Rs 77 to Rs 37,830 per kg. Silver coins, too, faced pressure and fell by Rs 1,000 to Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.

(With agency inputs)