Gold prices on Friday dropped by Rs 395 to Rs 32,700 per 10 grams at the bullion market in the national capital, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. The fall in gold prices was mainly due to low domestic demand amid subdued global trends, analysts were quoted as saying in the PTI report. Silver rates also declined by Rs 590 to Rs 38,260 per kg amid decrease in demand from coin makers and industrial units.
Here are 5 things to know about gold prices, silver rates:
1. In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 395 each to Rs 32,700 and Rs 32,530 per 10 grams, respectively. On Thursday, gold prices had gained Rs 35 to Rs 33,095.
2. Sovereign gold, however, remained unchanged at Rs 26,400 per piece of eight grams on Friday.
3. Globally, gold rates steadied on Friday, on track for its biggest monthly fall since August as a stronger dollar and equities pressured the market. Gold was also headed for a second consecutive monthly fall, losing about 1.5 percent. The metal is set for its first weekly fall in four and has lost about 1.9 per cent this month. Gold was trading at $1,287.70 an ounce and silver at $15.01 an ounce in New York.
4. Silver ready fell by Rs 590 to Rs 38,260 per kg on Friday and weekly-based delivery declined Rs 713 to Rs 37,289 per kg.
5. Silver coins, however, were unchanged at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
(With inputs from agencies)
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