Snapping the four-day rally, gold prices on Friday witnessed a fall of Rs 80 to Rs 33,220 per 10 grams at the bullion market in the national capital on sluggish demand from jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver, however, advanced by Rs 180 to Rs 40,380 per kg on increased demand from industrial units and coin makers. The decline came on subdued demand from local jewellers and weak trend overseas, said the report citing traders.
Here are five things to know about gold, silver prices today:
1. Gloablly, spot gold was down 0.1 per cent at $1,290.51 per ounce, while US gold futures were down 0.2 per cent at $1,290 per ounce, reported news agency Reuters.
2. In Delhi, gold of 99.9 per cent and 99.5 per cent purities reduced by Rs 80 each to Rs 33,220 per 10 grams and Rs 33,070 per 10 gram, respectively. In the past four days, gold prices had gone up by Rs 425.
3. Sovereign gold held steady at Rs 25,500 per piece of eight grams.
4. Gold demand turned fragile this week in as local prices jumped to their highest level in 2-1/2-years, reported Reuters. Gold prices in India, world's second-largest gold consumer, touched their highest since July 2016 this week.
5. Silver ready gained by Rs 180 to Rs 40,380 per kg, while weekly-based delivery dropped Rs 110 to Rs 39,580 per kg. Silver coins, however, held flat at Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.
(With agency inputs)
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