Gold & Silver

Gold falls Rs 150 to Rs 38,905 on weak demand

PTI New Delhi | Updated on September 17, 2019 Published on September 17, 2019

Gold prices declined by Rs 150 to Rs 38,905 per 10 gram in the bullion market here on Tuesday due to weak demand, according to HDFC Securities.

Likewise, silver also fell Rs 290 to Rs 48,028 a kilogram from Monday’s closing price of Rs 48,318 a kilogram, it said.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said gold prices for 24 Karat in Delhi was trading down by Rs 150 due to weak spot demand despite fall in rupee. On Monday, gold prices closed at Rs 39,055 per 10 gram in the national capital.

In the international market, gold was trading lower at $ 1,497 an ounce in New York and silver was also quoting down at $ 17.81 per ounce.

“International gold prices pared previous gains after rallying on geopolitical risk. Gold prices have maintained the narrow trading range awaiting development from US-China trade talks and US FOMC rate decision,” he added.

Published on September 17, 2019
This article is closed for comments.
Please Email the Editor