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

NDTV Profit Team

12 Feb 2019, 05:16 PM IST

Sovereign, however, remained unaltered at Rs 26,100 per piece of eight grams.

Gold prices fell by Rs 145 to Rs 34,080 per 10 grams at the bullion market Tuesday in sync with a weak global trend amid sluggish demand from local jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver too drifted down by Rs 100 to Rs 41,000 per kg due to low offtake from industrial units and coin makers. Gold faltered tracking a weak trend overseas as a stronger dollar reduced appeal of the precious metal as a safe-haven investment, said the report citing traders.

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 declined by Rs 145 each to Rs 34,080 and Rs 33,930 per 10 gram, respectively. It had lost Rs 55 on Monday.

2. Sovereign, however, remained unaltered at Rs 26,100 per piece of eight grams.

3. Globally, gold rose on Tuesday's slight pause in the dollar's rally as the United States and China continue talks aimed at ending their trade conflict, reported news agency Reuters.

4. Spot gold was up 0.3 per cent at $1,312.45 an ounce in the intrday trade after falling 0.4 per cent in the previous session. US gold futures gained 0.4 per cent to $1,316.70.

5. In step with gold, silver ready eased by Rs 100 toRs 41,000 per kg while weekly-based delivery dropped Rs 158 to Rs 39,829 per kg. Silver coins remained unchanged at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

(With agency inputs)