Gold Prices Fall For Five Straight Days: 5 Things To Know

NDTV Profit Team

12 Jul 2018, 03:32 PM IST

Sovereign gold, however, remained unaltered at Rs 24,800 per piece of eight gram.

New Delhi: Gold shed Rs 140 to Rs 31,210 per ten gram on Thursday in line with a subdued trend overseas and muted demand from local jewellers, reported news agency Press Trust of India (PTI). Silver followed suit and slipped by Rs 470 to Rs 40,030 per kg owing to reduced offtake by industrial units and coin makers. Marketmen said apart from a weak global trend, falling demand from local jewellers and retailers at domestic spot market kept the precious metal lower.

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

1. In international markets spot gold was steady at $1,243.10 an ounce in recent trade. The yellow metal slipped 1 per cent and hit an over one-week low at $1,240.89 on Wednesday. US gold futures for August delivery were 0.1 per cent lower at $1,243.60 an ounce, reported news agnecy Reuters.

2. In Delhi, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 140 each to Rs 31,210 and Rs 31,060 per ten gram, respectively. The precious metal had lost Rs 300 in last two days.

3. Sovereign, however, remained unaltered at Rs 24,800 per piece of eight gram.

4. Tracking gold, silver ready dropped by Rs 470 to Rs 40,030 per kg and weekly-based delivery by Rs 380 to Rs 39,230 per kg.

5. Silver coins, however, maintained a steady trend at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.