Gold Prices Slip On Sluggish Demand: 5 Things To Know

19 Nov 2018, 03:09 PM IST

Gold, silver prices: Gold had gained Rs 135 on Saturday.

Globally, gold fell 0.11 per cent to $1,220.80 an ounce and silver by 0.21 per cent to $14.46 an ounce. Gold rates edged lower as investors took some profit after the metal rose for four consecutive sessions last week, though the prices were supported by a muted dollar on Federal Reserve's concerns over the global economy, reported news agency Reuters.
"Investors also weighed heightened tensions between China and the US after the Asia-Pacific Economic Cooperation forum failed to agree on a joint statement for the first time in its history", said Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Commodities.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 50 each to Rs 32,100 and Rs 31,950 per 10 gram, respectively. The yellow metal had gained Rs 135 on Saturday.
Sovereign gold remained unaltered at Rs 24,800 per piece of 8 gram.
Silver ready eased by Rs 50 to Rs 38,100 and weekly-based delivery by Rs 3 to Rs 37,020 per kg. Silver coins continued to be traded at previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.