Gold Prices Fall For Second Straight Day: 5 Things To Know

Gold prices on Thursday declined by Rs 270 to Rs 34,180 per 10 grams at the bullion market, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver, however, gained Rs 120 to Rs 41,500 per kg on increased offtake by industrial units and coin makers. A weak trend overseas resulted in reduced buying by local jewellers which put pressure on the prices of the yellow metal, said the report citing traders. Gold prices on Wednesday declined marginally by Rs. 25. 

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

1. In Delhi, gold of 99.9 per cent and 99.5 per cent purities fell by Rs 270 each to Rs 34,180 and Rs 34,030 per 10 grams, respectively.    

2. However, sovereign gold held steady at Rs 26,100 per piece of eight grams.    

3. Globally, gold was trading close to a more than one-week low on Thursday weighed by a stronger dollar but uncertainties around the Sino-US trade spat and concerns about slowing global growth supported the metal above the key $1,300 level, reported news agency Reuters.

4. Spot gold was steady at $1,306.08 per ounce in intrday trade, after touching its lowest since January 29 at $1,302.11. US gold futures were down 0.3 per cent at $1,310.60.

5. Silver ready rose by Rs 120 to Rs 41,500 per kg, while weekly-based delivery gained Rs 77 to Rs 40,400 per kg. On other hand, silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

(With agency inputs)