Gold Prices Fall For Second Straight Day: 5 Things To Know

Gold prices declined for the second straight session by Rs 190 to Rs 32,000 per 10 grams at the bullion market on Monday owing to slackened demand from local jewellers amid a weak trend overseas, reported news agency Press Trust of India (PTI). On the other hand, silver prices remained steady at Rs 38,400 per kg in restricted activity. Tepid demand from local jewellers and retailers at domestic spot markets due to end of wedding season and a weak trend overseas, mainly weighed on the precious metal prices, reported the agency citing traders.

Here are five things to know about gold, silver prices today: 

1. Globally, gold prices inched lower on Monday as the dollar held firm below a 19-month peak on safe-haven demand amid concerns of a global economic slowdown, and as investors awaited cues on US interest rate hikes from a Federal Reserve meeting this week, reported Reuters. Spot gold was unchanged at $1,238.12 per ounce in the intraday trade. US gold futures rose 0.1 per cent at $1,242.1 per ounce.

2. In the national capital, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 190 each to Rs 32,000 and Rs 31,850 per 10 grams, respectively. The yellow metal had lost Rs 30 on Saturday.

3. Sovereign gold, however remained steady at Rs 25,000 per piece of 8 grams.    

4. Silver ready remained flat at Rs 38,400 per kg, while silver weekly-based delivery declined by Rs 124 to Rs 37,930 per kg.    

5. Silver coins remained unchanged at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.

(With agency inputs)