Gold fell by Rs. 25 to Rs. 31,090 per 10 gram in tandem with a weak global trend and muted demand from local jewellers, reported news agency Press Trust of India. Silver too shed Rs. 115 to Rs. 39,915 per kg on low offtake from industrial units and coin makers, it further reported. A weak overseas trend when metals’ prices slid to seven-month lows as the dollar rose to a two-week peak, buoyed by safe-haven purchases in the ongoing US-China trade war, influenced the sentiment here. Demand for the precious metals also waned on expectations of higher US interest rates.
Here are key things to know about gold and silver prices today:
1. Globally, gold fell 0.47 per cent to $1,241 an ounce and silver by 0.88 per cent to $15.79 an ounce in New York yesterday. Moreover, erosion in demand from local jewellers and retailers at domestic spot market fulled the downtrend, they said.
2. In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs. 25 each to Rs. 31,090 and Rs. 30,940 per ten gram, respectively. It had lost Rs. 535 in last four days.
3. Sovereign, however, held steady at Rs. 24,800 per piece of eight gram.
4. In sync with gold, silver ready traded lower by Rs. 115 to Rs. 39,915 per kg and weekly-based delivery by Rs. 220 to Rs. 39,045 per kg.
5. Silver coins however held steady at Rs. 74,000 for buying and Rs. 75,000 for selling of 100 pieces.