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Gold Prices Slip, Silver Advances: 10 Key Things To Know

Gold, silver prices today: Weak trend overseas amid easing demand from the local jewelers led to the fall in gold prices, according to traders.

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Gold Prices Slip, Silver Advances: 10 Key Things To Know

Gold, silver prices today: Globally, gold prices extended declines into a third session.

Gold prices lowered by Rs 40 to Rs 30,660 per 10 grams at the bullion market today, reported news agency Press Trust of India (PTI). Weak trend overseas amid easing demand from the local jewelers led to the fall in gold prices, according to traders. Globally, gold fell 0.57 per cent to $1,204.30 an ounce and silver by 0.56 per cent to $15.19 an ounce in Singapore. Meanwhile, silver prices advanced by Rs 50 to Rs 39,050 per kg due to increased offtake by industrial units.
Here are key things to know about gold prices, silver rates today:
  1. In the national capital, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 40 each to Rs 30,660 and Rs 30,510 per 10 grams, respectively. (Also read: Gold imports rise for first time in 7 months, says GFMS)
  2. The yellow metal had climbed by Rs 180 in Saturday's trade
  3. Sovereign remained flat today at Rs 24,600 per piece of 8 gram. 
  4. Globally, gold prices extended declines into a third session today.
  5.  According to traders, weak trend overseas was observed as the US dollar climbed to a 13-month high against major peers amid financial crisis in Turkey, which mainly influenced the sentiment. 
  6. Also, low demand from local jewellers and retailers at domestic spot market weighed on the gold prices today.
  7. Asian shares also fell on Monday and the euro hit one-year lows against the dollar.
  8. On global front, the US dollar, in which gold is priced, has benefited from recent global political and trade tensions, while bullion has not despite being widely seen as a safe-haven asset.
  9. Meanwhile, silver ready today advanced by Rs 50 to Rs 39,050 per kg and weekly-based delivery by Rs 85 to Rs 38,050 per kg. 
  10. Silver coins dropped by Rs 1,000 to Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.

(With agency inputs)



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Highlights

1
Gold prices slip by Rs 40 to Rs. 30,660 per 10 grams in Delhi
2
Silver prices advance by Rs 50 to Rs. 39,050 per kilogram
3
Gold had risen by Rs. 180 per 10 grams on Saturday

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