Gold & Silver

Weak global trend, muted demand pull gold prices down to Rs 30,630

PTI New Delhi | Updated on August 14, 2018 Published on August 14, 2018

In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell Rs 30 each to Rs 30,630 and Rs 30,480 per 10 gram, respectively.

Silver plunges by Rs 335 to Rs 38,715 per kg

Gold eased by Rs 30 to Rs 30,630 per 10 gram today, driven by a subdued global trend amid tepid demand from local jewellers. Silver too plunged by Rs 335 to Rs 38,715 per kg due to poor offtake by industrial units and coin makers.

Marketmen said the sentiment remained downbeat in tune with a weak trend overseas, where gold prices hit 17-month low yesterday, as investors sought refuge from a financial market rout triggered by Turkish lira.

Furthermore, sluggish demand from local jewellers and retailers at the domestic spot market fuelled the downtrend.

Globally, gold fell 1.49 per cent to $1,193.10 an ounce and silver by 2.03 per cent to $14.97 an ounce in New York in yesterday’s trade.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell Rs 30 each to Rs 30,630 and Rs 30,480 per 10 gram, respectively. The precious metal had lost Rs 40 in yesterday’s trade. Sovereign however remained unaltered at Rs 24,600 per piece of eight gram in limited deals.

In sync with gold, silver ready dropped by Rs 335 to Rs 38,715 per kg and weekly-based delivery by Rs 310 to Rs 37,740 per kg. On the other hand, silver coins held steady at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.

Published on August 14, 2018
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