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Gold Prices Fall On Low Demand, Weak Global Trend: 10 Things To Know

In Delhi, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 250 each to Rs 35,720 and Rs 35,550 per 10 gram, respectively

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Gold Prices Fall On Low Demand, Weak Global Trend: 10 Things To Know

Sovereign gold also fell by Rs 100 to Rs 27,400 per eight grams

Gold prices fell on Tuesday after touching an all-time high in the yesterday's session. Gold prices fell by Rs 250 to Rs 35,720 per 10 grams in Delhi, reported news agency Press Trust of India (PTI). The fall in prices came on weak trend overseas and low domestic demand. On Monday, gold prices had risen by Rs. 100 per to a record high of Rs. 35,970 per 10 grams in the national capital. Silver prices also declined marginally by Rs 10 to Rs 41,950 per kilogram. Silver prices fell due to reduced offtake by industrial units and coin makers.
Here are 10 things to know about gold and silver prices today:
  1. Trading sentiment turned bearish after gold declined in overseas markets as a strengthening US dollar reduced the demand for the precious metal as an alternative investment, reported PTI citing traders.
  2. Besides, weak demand from local jewellers also weighed on gold prices, traders added.
  3. Globally, gold prices dipped as the dollar strengthened and some investors locked in profits ahead of the US Federal Reserve meeting next week, reported news agency Reuters.
  4. Spot gold was down 0.5 per cent at $1,417.41 per ounce in intraday trade.
  5. US gold futures slipped 0.6 per cent to $1,417.90 an ounce.
  6. "Gold prices witnessed decline after dollar index gained strength ahead of ECB meeting and US Debt ceiling deal," Press Trust of India quoted Tapan Patel, senior analyst (commodities), HDFC Securities as saying.
  7. In Delhi, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 250 each to Rs 35,720 and Rs 35,550 per 10 gram, respectively.
  8. Sovereign gold also fell by Rs 100 to Rs 27,400 per eight grams.
  9. Silver ready dropped Rs 10 to Rs 41,950 per kg, while weekly-based delivery fell by Rs 38 to Rs 41,035 per kg.
  10. However, silver coins remained steady at Rs 84,000 for buying and Rs 85,000 for selling of 100 pieces.  (With agency inputs) 




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