Gold Prices Remain Steady, Silver Rates Drop By Rs 200: 5 Things To Know
Gold prices on Friday ended steady at Rs 32,220 per 10 gram at the bullion market in the national capital amid weak global cues, reported Press Trust of India (PTI). Silver rates, however, dropped by Rs 200 to Rs 38,600 on weak demand from industrial units and coin makers. Globally, gold eased for the second straight session to hit a one-week low on Friday as the dollar rose, putting the metal on track to post its biggest weekly fall in five ahead of the US Federal Reserve's interest rate decision next week.
Here are 5 things to know about gold prices, silver rates on Friday:
1. In the national capital, gold of 99.9 per cent and 99.5 per cent purity remained unchanged at Rs 32,220 and Rs 32,070 per 10 gram, respectively. On Thursday, gold fell by Rs. 320 to close at Rs. 32,220 per 10 gram at the bullion market
2. Sovereign gold stood steady at Rs 25,000 per 8 gram.Â
3. Globally, gold declined to $1,239.58 an ounce in New York, while silver held steady at $14.68 an ounce. The dollar gained as investors turned nervous about an economic slowdown in China and was further supported by weakness in the euro and pound, reported news agency Reuters. A firm dollar makes gold more expensive for holders of other currencies. Â
4. Silver ready declined by Rs 200 to Rs 38,600 per kg, while weekly-based delivery fell by Rs 221 to Rs 38,130 per kg.Â
5. Silver coins remained unchanged at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.Â
(With inputs from agencies)
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