Gold Prices Fall After 3 Days Of Gains: 5 Things To Know

Gold prices on Wednesday dipped by Rs 100 to Rs 32,750 per 10 grams on lacklustre demand from jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver prices, however, advanced by Rs 20 to Rs 38,420 per kg. The gain in equities market reduced gold's safe-haven appeal and sluggish demand from local jewellers weighed on the prices, said the PTI report citing traders. Gold prices on Tuesday had advanced by Rs. 30 to Rs. 32,850. 

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

1. Globally, gold prices were steady on Wednesday on a weaker dollar, after recovering from a four-week low in the previous session, even as safe-haven demand for the metal was muted due to a rally in equities to multi-month highs, reported news agency Reuters.

2. Spot gold was flat at $1,293.33 per ounce in intraday trade, having touched its lowest level since March 7 at $1,284.76 in the previous session. US gold futures firmed 0.2 per cent at $1,297.70 an ounce.

3. In Delhi, gold of 99.9 per cent purity declined by Rs 100 to Rs 32,750 per 10 gram, while gold of 99.5 per cent purity fell by Rs 120 to Rs 32,580 per 10 grams.    

4. Sovereign gold, however, remained unchanged at Rs 26,400 per eight grams.    

5. Silver ready rose by Rs 20 to Rs 38,420 per kg and weekly-based delivery reduced by Rs 28 to Rs 37,420 per kg. Silver coins were unchanged at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

(With agency inputs)