Gold Price Breaks 3-Day Rising Spree: Key Things To Know

Gold slipped by Rs 30 to Rs 30,620 per 10 gram at the bullion market on Thursday on easing demand from local jewellers amid weak trend overseas, reported Press Trust of India (PTI). Silver also slumped by Rs 300 to Rs 37,800 per kg on reduced offtake by industrial units and coin makers. Traders said sentiment turned bearish as gold fell in global markets, after hitting a one-week high in the previous session, as fears of another round of US tariffs on China and expectations of higher interest rates lifted the dollar.    

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

1. Globally, spot gold was down 0.6 per cent at $1,188.16 an ounce at 0823 GMT. Prices hit their highest since August 13 at $1,201.51 on Wednesday, but failed to hold the psychological $1,200 level after recovering from 1-1/2-year lows touched last week, reported Reuters. US gold futures were down 0.7 percent at $1,194.80.    

2. In the national capital, gold of 99.9 per cent and 99.5 per cent purity shed Rs 30 each to Rs 30,620 and Rs 30,470 per 10 gram, respectively. The precious metal had gained Rs 400 in the previous three days.

3. Sovereign, however, held steady at Rs 24,500 per piece of eight gram.    

4. In sync with gold, silver ready dropped by Rs 300 to Rs 37,800 per kg and weekly-based delivery by Rs 200 to Rs 36,750 per kg. 

5. Silver coins however continued to be enquired at last level of Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces. 

(With agency inputs)