Gold Prices Edge Lower: 5 Things To Know

Gold prices were ruling almost flat at Rs 33,370 per 10 grams, while silver dropped Rs 410 to Rs 39,300 per kg on Thursday, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Gold prices fell by Rs 15 at the bullion market, said the PTI report citing traders. Globally, gold fell as the dollar regained some ground and uncertainty over Brexit eased, but the metal held close to a two-week high hit in the previous session as tepid US inflation data cemented expectations that the Federal Reserve would hold rates, reported news agency Reuters.    

Here are 5 things to know about gold, silver prices:

1. In Delhi, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 15 each to Rs 33,370 and Rs 33,200 per 10 grams, respectively. The precious metal had gained by Rs. 235 on Wednesday.

2. However, sovereign gold held steady at Rs 26,400 per eight grams.

3. Globally, spot gold was down 0.4 per cent at $1,303.87 per ounce in intraday trade, after touching its highest since March 1 at $1,311.07 on Wednesday. US gold futures also dipped 0.4 per cent, to $1,304.20 an ounce.

4. On the other hand, silver ready slumped by Rs 410 to Rs 39,300 per kg and weekly-based delivery by Rs 107 to Rs 38,661 per kg.    

5. Price for a lot of 100 silver coins remained flat at Rs 80,000 for purchase and Rs 81,000 for sale.

(With agency inputs)