Continuing their downward trend for a fourth session in a row, gold prices declined by Rs 50 per 10 grams to Rs 32,670 per 10 grams on Tuesday, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver stood steady at Rs 37,350 per kilogram, the same level as the previous session. Gold prices dropped due to a weak trend overseas and decline in local demand, Press Trust of India quoted traders as saying. The price of the yellow metal had declined by Rs 150 per 10 grams to Rs 32,720 per 10 grams on Monday.
Here are five things to know about gold and silver prices today:
1. Globally, gold prices fell on Tuesday, hovering near a more than two-week low touched in the previous session. The dollar strengthened and improved risk appetite took the sheen off bullion ahead of the release of minutes from the Federal Reserve's latest policy meeting, reported news agency Reuters.
2. Spot gold eased by 0.1 per cent to $1,276.01 an ounce in intraday trade, having slipped as low as $1,273.22 on Monday. US gold futures were also down 0.1 per cent at $1,275.50.
3. In Delhi, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 50 each to Rs 32,670 and Rs 32,500 per 10 grams, respectively.
4. Sovereign gold, however, held steady at Rs 26,500 per eight grams.
5. Silver ready held steady at Rs 37,350 per kg, while weekly-based delivery gained Rs 90 to Rs 36,251 per kg. Silver coins held flat at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.