Gold Prices Continue To Come Down: 5 Things To Know
Gold prices shed Rs 20 to Rs 31,400 per ten grams at the bullion market today amid a weak trend overseas and easing demand from local jewellers, reported news agency Press Trust of India (PTI). Silver also remained under selling pressure and lost Rs 250 at Rs 40,350 per kg owing to reduced offtake by industrial units and coin makers, further reported the agency. Marketmen said, sentiment remained bearish in line with a subdued trend overseas where gold prices edged lower as the dollar firmed after last week's US inflation data supported the Federal Reserve's outlook for future interest rate hikes.
Here are key things to know about gold and silver prices today:
1. Gold slipped back towards its lowest in more than six months on Monday as the currencies of key consumers weakened, making it more expensive for them to buy dollar-priced bullion. In the international market, gold was trading around $1,249 an ounce, close to last Thursday's trough of $1,245.
2. In the national capital, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 20 each to Rs 31,400 and Rs 31,250 per ten grams, respectively.
3. The precious metal had lost Rs 230 in the previous two sessions. Sovereign, however, remained steady at Rs 24,800 per piece of eight grams.
4. Tracking gold, silver ready dropped further by Rs 250 to Rs 40,350 per kg and weekly-based delivery by Rs 185 to Rs 39,040 per kg.
5. On the other hand, silver coins, however, continued to be traded at previous level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.
(With Agency Inputs)
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
