ADVERTISEMENT
Gold Prices Fall Today, Slips Below Rs 32,000: 5 Things To Know
04 May 2018, 03:18 PM IST 
Sovereign gold, however, remained unaltered at Rs 24,700 per piece of eight grams.
- In Delhi, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 20 each to Rs 31,980 and Rs 31,830 per 10 grams, respectively.
- Sovereign gold, however, remained unaltered at Rs 24,700 per piece of eight grams.
- However, silver ready recovered by Rs 100 to Rs 40,300 per kg and weekly-based delivery recaptured the Rs 39,000-mark by rising Rs 150 to Rs 39,065 per kg. Silver coins, however, continued to be traded at previous level of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces in limited deals.
- Investors' focus is now on US payrolls data, with the April report likely to underscore labour market strength. Non-farm payrolls were likely to have increased by about 192,000 last month, according to a Reuters survey of economists, after rising only 103,000 in March. Strong wage gains and a strong dollar could put pressure on non-interest yielding assets like gold.
- Gold demand posted its weakest start to the year in a decade, the World Gold Council said, as prices of the metal stagnated and the threat of rising interest rates led investors to seek better returns elsewhere. In India, gold demand in India fell by 12 per cent in the first quarter of this year to 115.6 tonne compared to the same period last year due to high local gold price, the World Gold Council (WGC) said in a report. "The decline in demand can be attributed to a number of reasons, including the rising local gold prices, a substantial drop in the number of auspicious wedding days during the period compared to the previous year, and anticipation of an import duty cut in the Union Budget," WGC, India, managing director PR Somasundaram said.
