Gold Prices Fall On Weak Global Cues: 5 Things To Know

Agencies

15 Jul 2019, 04:46 PM IST

Sovereign gold held steady at Rs 27,400 per eight grams

Gold prices on Monday declined by Rs 100 to Rs 35,470 per 10 grams, reported news agency Press Trust of India (PTI). The fall in gold prices came due to profit-booking and subdued trend overseas. Tracking gold, silver also fell by Rs 25 to Rs 39,175 per kg on reduced offtake by industrial units and coin makers. On Saturday, prices of the precious metal rose by Rs 170 to Rs 35,570 per 10 grams and silver surged Rs 175 to Rs 39,200 per kg.

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

1. Globally, gold steadied on Monday after data showed Chinese economic growth slowed to its weakest in about 27 years, while gains in equities curbed appetite for bullion as investors latched onto some positive readings from the world's second-biggest economy, reported news agency Reuters.

2. Spot gold inched 0.1 per cent higher to $1,416.29 per ounce in intraday trade, reversing some losses ahead of the data. US gold futures rose 0.4 per cent to $1,418.10.

3. According to the All India Sarafa Association, gold of 99.9 per cent and 99.5 per cent purity fell Rs 100 each to Rs 35,470 and Rs 35,300 per 10 grams, respectively in Delhi.

4. However, sovereign gold held steady at Rs 27,400 per eight grams.

5. Silver ready declined by Rs 25 to Rs 39,175 per kg and weekly-based delivery advanced by Rs 10 to Rs 38,400 per kg. Silver coins held flat at Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces.