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

Gold prices on Monday fell by Rs 100 to Rs 33,620 per 10 grams reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver prices also dropped by Rs 10 to Rs 38,090 per kg owing to reduced offtake by industrial units and coin makers. The decline in gold prices came due to fall in demand from local jewellers and a weak global trend, said the report citing traders. The yellow metal had fallen by Rs 150 to Rs 33,720 per 10 grams on Saturday.

Here are five things to know about gold and silver prices today:

1. In Delhi, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 100 each to Rs 33,620 and Rs 33,450 per 10 grams, respectively.

2. Globally, gold prices eased, after retreating from a 14-month peak hit in the previous session, as the dollar held near multi-week highs on strong US retail sales data, ahead of the US Federal Reserve meeting this week, reported news agency Reuters.

3. Spot gold was down 0.3 per cent at $1,337.31 per ounce in intraday trade. Gold hit $1,358.04, its highest since April 11, 2018, on Friday. US gold futures were down 0.2 per cent at $1,341.70 an ounce.

4. Sovereign gold, however, remained flat at Rs 26,800 per eight grams as compared with the previous close.

5. Silver ready fell by Rs 10 to Rs 38,090 per kg, whereas, weekly-based delivery rose by Rs 81 to Rs 37,116 per kg. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

(With agency inputs)