Gold Prices Fall Over 1,200 Rupees In Five Sessions: Key Things To Know

Gold prices edged lower by Rs 20 to Rs 33,430 per 10 grams on Wednesday, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. That marked the fifth straight session of losses. Gold prices fell due to weak demand from local jewellers, traders were quoted as saying in the PTI report. The yellow metal had shed Rs 1,200 in the last four sessions. Silver rates, on the other hand, remained steady at Rs 39,500 per kg at the bullion market on Wednesday. 

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

1. In Delhi, gold of 99.9 per cent and 99.5 per cent purities dropped by Rs 20 to Rs 33,430 and Rs 40 to Rs 33,260 per 10 grams, respectively.    

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

3. Globally, gold prices inched up on Wednesday, after recovering from a more than five-week low in the previous session, supported by a pause in global equities' rally, while a firmer dollar curbed gains, reported news agency Reuters.

4. Spot gold was up 0.2 per cent at $1,290.04 per ounce, intraday trade, after slipping to $1,280.70 in the previous session, its lowest since January 25. US gold futures were up about 0.4 per cent at $1,289.60 per ounce.

5. Silver ready held steady at Rs 39,500 per kg, while weekly-based delivery gained Rs 594 to Rs 38,709 per kg. Silver coins also held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces. 

(With agency inputs)