Gold Prices Fall After Touching Record High: 10 Things To Know
- In Delhi, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 100 to Rs 38,370 and Rs 38,200 per 10 grams, respectively.
- Sovereign gold, however, gained Rs 200 to Rs 28,800 per eight grams.
- Internationally, gold prices scaled their highest in more than six years on Tuesday, as concerns around protests in Hong Kong and an Argentine currency crash amid fears of global economic slowdown, prompted investors to move away from riskier assets, reported news agency Reuters.
- Spot gold rose 0.7 per cent to $1,521.98 per ounce in intraday trade, its highest since April 2013.
- US gold futures rose 1 per cent to $1,533 an ounce.
- India is the world's second-biggest consumer of gold. Last month, the government raised import duties on gold and other precious metals to 12.5 per cent from 10 per cent.
- Silver, meanwhile, climbed 1.8 per cent to $17.36 per ounce on Tuesday. During the session, it hit its highest since January 2018 at $17.42.
- "At Rs 45,000, silver has touched its all time-high. Strong overseas trend led to the increase in silver price," Press Trust of India quoted Surendra Jain, vice president, All India Sarafa Association as saying.
- Silver ready jumped by Rs 2,000 to Rs 45,000 per kg, while weekly-based delivery surged by Rs 956 at Rs 44,280 per kg.
- Silver coins traded higher by Rs 1,000 at Rs 89,000 for buying and Rs 90,000 for selling of 100 pieces.
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