Gold prices drifted further lower by Rs 50 to Rs 31,950 per 10 grams at the bullion market on Wednesday, falling for the third consecutive day, tracking a weak global trend amid weak demand from local jewellers reported news agency Press Trust of India. The precious metal has lost Rs 150 in the past two days. Silver too followed suit and dropped by Rs 100 to Rs 37,800 per kg at the bullion market, it futher reported. Traders said, sentiment remained bearish on the back of subdued global trend as strength in dollar eroded demand for the precious metals as a safe-haven.
Here are five key things to know about gold, silver prices:
1. Globally, gold prices eased slightly on Wednesday as the US dollar was boosted by safe-haven demand as investors eyed US-China tensions amid heightened risk aversion, reported news agency Reuters. Spot gold dipped 0.1 per cent to $1,220.36 per ounce in the intraday trade. US gold futures were flat at $1,220.7 per ounce.
2. In Delhi, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 50 each to Rs 31,950 and Rs 31,800 per 10 gram respectively.
3. Sovereign gold held flat at Rs 24,800 for piece of 8 grams on scattered support.
4. Silver ready ended Rs 100 down at Rs 37,800 per kg, while weekly-based delivery lost Rs 183 at Rs 36,586 per kg.
5. Silver coins, however, remained steady at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.
(With agency inputs)
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