Fall in demand from local jewellers, overseas bearish trend weaken gold, silver prices

Globally, gold fell 0.11 percent to $1,220.80 an ounce and silver by 0.21 percent to $14.46 an ounce.

Press Trust of India November 19, 2018 14:59:27 IST
Fall in demand from local jewellers, overseas bearish trend weaken gold, silver prices

New Delhi: Gold shed Rs 50 to Rs 32,100 per 10 gram at the bullion market Monday, owing to slackened demand from local jewellers amid a weak trend overseas.

Silver, too, weakened by Rs 50 to Rs 38,100 per kg.

Traders said fall in demand from local jewellers and retailers and bearish trend overseas, after comments from Federal Reserve officials showed caution over the global economy, prompting investors to reassess the pace of future US interest rate hikes, mainly kept pressure on gold prices.

Globally, gold fell 0.11 percent to $1,220.80 an ounce and silver by 0.21 percent to $14.46 an ounce.

In the national capital, gold of 99.9 percent and 99.5 percent purity fell by Rs 50 each to Rs 32,100 and Rs 31,950 per 10 gram, respectively. The yellow metal had gained Rs 135 on Saturday.

Sovereign gold, however, remained unaltered at Rs 24,800 per piece of 8 gram.

In step with gold, silver ready eased by Rs 50 to Rs 38,100 and weekly-based delivery by Rs 3 to Rs 37,020 per kg.

Silver coins, however, continued to be traded at previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.

Updated Date:

also read

In Crazy Rich Asians, I found my only vacation during a raging pandemic
Entertainment

In Crazy Rich Asians, I found my only vacation during a raging pandemic

The setting of Crazy Rich Asians is inextricably tethered to its characters. Their material possessions — generational wealth, plump diamonds, rolling estates, gleaming luxury cars, and multi-million-dollar businesses — make them who they are. It's right there in the title!

Biggest challenge for an athlete is repeating a gold at the Olympics, says Neeraj Chopra
Sports

Biggest challenge for an athlete is repeating a gold at the Olympics, says Neeraj Chopra

“Yeh time hai aage badhne ka. I’ll now hang this gold at home and start preparing for the next season’s competitions and then the next Olympic Games,” said Neeraj Chopra.

Suhas Yathiraj says he's 'never been so happy and disappointed at same time' after silver at Tokyo 2020
Sports

Suhas Yathiraj says he's 'never been so happy and disappointed at same time' after silver at Tokyo 2020

A computer engineer, Suhas Yathiraj became an IAS officer in 2007 and was at the forefront of the fight against the COVID-19 pandemic as Noida's District Magistrate.