Gold prices fall by Rs 60 to Rs 34,530 per 10 grams in Delhi on weak global cues, muted demand

Gold prices fell by Rs 60 to Rs 34,530 per 10 grams at the bullion market on Tuesday backed by weak trend overseas amid easing demand from local jewellers at prevailing levels, according to All India Sarafa Association

Press Trust of India February 26, 2019 15:01:15 IST
Gold prices fall by Rs 60 to Rs 34,530 per 10 grams in Delhi on weak global cues, muted demand
  • Globally, spot gold prices fell 0.14 percent to $1,326.30 an ounce

  • In the national capital, gold of 99.9 percent fell by Rs 60 to Rs 34,530 per 10 grams

  • Gold of 99.5 percent shed Rs 40 to Rs 34,400 per 10 gram

New Delhi: Gold prices fell by Rs 60 to Rs 34,530 per 10 grams at the bullion market on Tuesday backed by weak trend overseas amid easing demand from local jewellers at prevailing levels, according to All India Sarafa Association.

Silver, too, dropped by Rs 195 to Rs 41,405 per kg owing to reduced offtake by industrial units, while its coins strengthened on increased demand.

Gold prices fall by Rs 60 to Rs 34530 per 10 grams in Delhi on weak global cues muted demand

Representational image. Reuters.

Traders said apart from a weak trend overseas, decline in demand from local jewellers and retailers at existing levels in the domestic spot market, mainly weighed on the gold and silver prices.

Globally, spot gold fell 0.14 percent to $1,326.30 an ounce and spot silver by 0.16 percent to $15.93 an ounce in New York.

In the national capital, gold of 99.9 percent fell by Rs 60 to Rs 34,530 per 10 grams, while gold of 99.5 percent shed Rs 40 to Rs 34,400 per 10 gram.

Sovereign gold, however, remained unaltered at Rs 26,600 per piece of eight grams in limited deals.

Following gold, silver ready too moved down by Rs 195 to Rs 41,405 per kg and weekly-based delivery fell by Rs 314 to Rs 40,076 per kg.

On the other side, silver coins increased by Rs 1,000 to Rs 83,000 for buying and to Rs 84,000 for selling of 100 pieces.

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