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

Gold prices on Friday fell Rs 170 to Rs 32,850 per 10 grams, registering its second day of decline due to subdued domestic demand, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver also followed gold by declining Rs 350 to Rs 38,200 per kg on decreased offtake by industrial units and coin makers. Reduced demand from local jewellers as well as retail buyers led to the fall in gold prices, said the PTI report citing traders. 

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

1. Globally, gold prices inched up on Friday, a day after the metal posted its biggest daily percentage decline in two weeks, as the dollar and Asian equities slipped, reported news agency Reuters.

2. Spot gold was up 0.1 per cent at to $1,293.30 per ounce in intraday trade, after touching a one-week low on Thursday. US gold futures gained 0.2 per cent to $1,295.40 an ounce.

3. In Delhi, gold of 99.9 per cent and 99.5 per cent purities fell by Rs 170 each to Rs 32,850 and Rs 32,680 per 10 grams, respectively. On Thursday, the yellow metal had fallen by Rs 50.        

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

5. Silver ready slumped by Rs 350 to Rs 38,200 per kg, while weekly-based delivery dropped Rs 333 to Rs 37,227 per kg. On the other hand, silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces. 

(With agency inputs)