Gold Prices Fall After 2 Days Of Gains: 5 Things To Know

Gold prices on Wednesday fell by Rs 115 to Rs 33,210 per 10 grams at the bullion market, reported news agency Press Trust of India (PTI). The metal tracked a weak trend overseas and tepid demand from local jewellers, said the report quoting the All India Sarafa Association. Silver, however, staged a strong recovery of Rs 310 to Rs 40,160 per kg due to increased offtake by industrial units and coin makers. Traders attributed the decline in gold prices to a weak trend overseas and muted demand from jewellers at the domestic markets.

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

1. In Delhi, gold of 99.9 per cent and 99.5 per cent purity moved down by Rs 115 each to Rs 33,210 and Rs 33,060 per 10 gram, respectively. The precious metal had gained Rs 125 on Tuesday.    

2. Sovereign gold, however remained flat at Rs 25,500 per piece of eight grams.

3. Globally, gold prices stood firm on Wednesday, after gaining the most since January 9 the day before, on higher demand for safe-haven assets over concerns of slowing global economy and uncertainties about the US-China trade row, reported news agency Reuters.

4. Spot gold was little changed at $1,284.10 per ounce in intraday trade, while US gold futures were up 0.1 per cent at $1,284 per ounce.    

5. Meanwhile, silver ready bounced back by Rs 310 to Rs 40,160 per kg and weekly-based delivery by Rs 311 to Rs 39,1987 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)