Gold prices on Thursday declined by Rs 405 to Rs 32,385 per 10 grams on reduced buying by local jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver too slumped by Rs 104 to Rs 38,246 per kg on subdued offtake by industrial units and coin makers. Gold fell due to decline in domestic demand, said the report citing traders. Besides, signs of positive global economic outlook reduced gold's appeal as safe-haven, thus weighing on the sentiment.
Here are 5 things to know about gold, silver prices:
1. Globally, gold prices edged up on Thursday from the near 4-month low touched early in the session after data showing euro zone businesses were under pressure brought concerns about global growth back to the fore, reported news agency Reuters.
2. Spot gold was up 0.2 per cent at $1,275.71 per ounce in intraday trade, having fallen to its lowest since December 27 at $1,270.63 earlier in the session.
3. In Delhi, gold of 99.9 per cent and 99.5 per cent purity reduced by Rs 405 and Rs 395 to Rs 32,385 and Rs 32,225 per 10 gram, respectively. On Wednesday, Delhi bullion market was closed on account of Mahavir Jayanti.
4. Similarly sovereign gold fell by Rs 100 at Rs 26,300 per eight grams.
5. Silver ready dropped Rs 104 to Rs 38,246 per kg, while weekly-based delivery fell by Rs 187 to Rs 37,135 per kg. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
(With agency inputs)