Gold Prices Continue To Come Down: Key Things To Know

Gold prices fell by Rs 90 to Rs 30,250 per 10 grams at the bullion market on Saturday owing to tepid demand from local jewellers even as the precious metal strengthened overseas, reported news agency Press Trust of India (PTI). However, silver held steady at Rs 38,000 per kg on scattered enquiries from industrial units and coin makers. Marketmen attributed the slide in gold prices to easing demand from local jewellers and retailers in the domestic spot market but a firm trend overseas capped the fall.

Here are the key things to know about gold and silver prices today:

1. Globally, gold rose by 0.93 per cent to $1,184.60 ounce and silver climbed 0.99 per cent to $14.77 an ounce in New York in yesterday's trade.    

2. In Delhi, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 90 each to Rs 30,250 and Rs 30,100 per 10 grams, respectively. Sovereign also traded lower by Rs 100 to Rs 24,400 per piece of 8 grams.    

3. On the other hand, silver ready ruled flat at Rs 38,000 per kg, while weekly-based delivery recovered by Rs 235 to Rs 36,940 per kg on speculative buying.    

4. Silver coins, however, held steady at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.

5. Globally, gold recovered some ground on Friday as a weakening US dollar relieved pressure on prices, but the precious metal remained near 19-month lows and looked poised for its biggest weekly drop since May 2017, reported Reuters.