Gold Prices Fall For Second Straight Day: 5 Things To Know

Gold prices on Thursday fell by Rs 80 to Rs 32,670 per 10 grams at the bullion market due to subdued demand from jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver too declined by Rs 90 to Rs 38,330 per kg on low offtake by industrial units and coin makers. Reduced demand from local jewellers as well as retail buyers led to the downtrend in gold prices, said the PTI report citing traders. On Wednesday, the yellow metal had declined by Rs 100. 

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

1. Globally, gold prices rose on Thursday as the US dollar traded close to a one-week low hit in the previous session, while investors awaited progress on the Sino-US trade negotiations, reported news agency Reuters.

2. Spot gold climbed by 0.2 per cent to $1,292.16 per ounce in intraday trade. US gold futures firmed 0.1 per cent at $1,296.80 an ounce.        

3. In Delhi, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 80 each to Rs 32,670 and Rs 32,500 per 10 grams, respectively. 

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

5. Silver ready fell by Rs 90 to Rs 38,330 per kg, while weekly-based delivery rose by Rs 45 to Rs 37,465 per kg. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

(With agency inputs)