Gold prices on Friday declined by Rs 160 to Rs 33,170 per 10 grams, reported news agency Press Trust of India quoting the All India Sarafa Association. The fall came due to tepid demand from jewellers amid weak global trend. Similarly, silver also slumped Rs 625 to Rs 37,625 per kg on reduced offtake by industrial units and coin makers. Sentiment remained bearish on the back of a weak trend overseas, while easing demand from local jewellers also weighed on bullion prices, said the report citing traders.
Here are five things to know about gold and silver prices today:
1. Globally, gold held steady on Friday after posting its biggest one-day percentage fall in a month in the previous session, with gains curbed by a firmer dollar and a pullback in global equities on US-China trade tensions offering support, reported news agency Reuters.
2. Spot gold was flat at $1,285.01 per ounce in intraday trade. US gold futures were little changed at $1,285.10 an ounce.
3. In Delhi, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 160 each to Rs 33,170 and Rs 33,000 per 10 grams, respectively. The yellow metal had gained by Rs. 70 on Thursday.
4. Sovereign gold, however, held steady at Rs 26,500 per eight grams.
5. Meanwhile, silver ready dropped by Rs 625 to Rs 37,625 per kg, while weekly-based delivery plunged Rs 702 to Rs 36,822 per kg. On the other hand, silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
(With agency inputs)