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

NDTV Profit Team

27 May 2019, 04:18 PM IST

Sovereign gold, however, held steady at Rs 26,500 per eight grams

Gold prices declined by Rs 40 to Rs 32,770 per 10 grams on Monday, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver however, gained Rs 90 to Rs 37,500 per kg on fresh offtake by industrial units and coin makers. The fall in demand from local jewellers and retailers at the domestic spot market led to the dip in gold prices but a positive trend overseas capped the fall, Press Trust of India quoted traders as saying.

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

1. Globally, gold hit a more than one-week peak on Monday as trade tensions between the United States and China lifted appetite for assets seen as a haven from risk, while weak US economic data boosted hopes for a rate cut from the Federal Reserve.

2. Spot gold inched up 0.1 per cent to $1,285.60 per ounce in intraday trade. The metal touched $1,287.32 earlier in the session, its highest since May 17. US gold futures were 0.2 per cent higher at $1,285.60 an ounce.

3. In Delhi, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 40 each to Rs 32,770 and Rs 32,600 per 10 gram, respectively. On Saturday, the prices of yellow metal had fallen by Rs 60 to Rs 32,810 per 10 grams.

4. Sovereign gold, however, held steady at Rs 26,500 per eight grams.

5. Silver ready rose by Rs 90 at Rs 37,500 per kg, while weekly-based delivery advanced Rs 114 to Rs 36,498 per kg. Silver coins held flat at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.

(With agency inputs)