Gold prices slumped by Rs 425 to Rs 37,945 per 10 grams in Delhi on Wednesday, reported news agency Press Trust of India (PTI). The fall came due to easing of demand from jewellers in the domestic spot market, the reported quoted traders as saying. However, positive trend overseas capped the fall in prices, they added. The yellow metal had dropped by Rs. 100 to Rs. 38,370 per 10 grams on Tuesday. Silver prices also declined by Rs 690 to Rs 44,310 per kilogram. The white metal fell on reduced offtake by industrial units and coin makers.
Here are key 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 425 each to Rs 37,945 and Rs 37,775 per 10 grams, respectively.
2. Sovereign gold also dropped Rs 100 to Rs 28,700 per eight grams.
3. Globally, gold prices edged lower on Wednesday after the United States delayed tariffs on some Chinese imports, easing trade concerns, although political uncertainties and lingering global growth concerns limited losses for the safe-haven metal, reported news agency Reuters.
4. Spot gold was down 0.1 per cent at $1,499.89 per ounce in intraday trade. US gold futures were down 0.2 per cent at $1,510.80 an ounce.
5. Silver ready plunged by Rs 690 to Rs 44,310 per kilogram, while weekly-based delivery price plummeted by Rs 1,050 at Rs 43,230 per kg. Silver coins traded at Rs 88,000 for buying and Rs 89,000 for selling of 100 pieces.