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Thursday, 7 December 2017

Gold declines below Rs. 30-K-mark on weak global cues

Gold, Metals, Commodity, Stock Commodity, Top Advisory, Money Maker Research
Gold prices slips below the Rs. 30,000-mark on Thursday, going down  by Rs. 100 to trade at over 3-month low of Rs. 29,950 per 10 grams at the bullion market on account of  a weak trend overseas along with muted demand from local jewelers. Similarly, price of Silver also plunged Rs. 375 to Rs. 38,125 per kg owing to reduced off-take by industrial units and coin makers. Globally, the rates of gold fell 0.45 percent to USD 1,257.10 an ounce and silver by 0.31 percent to USD 15.87 an ounce in Singapore.

In New Delhi, gold of 99.9% & 99.5% purity declined by Rs. 100 each to Rs. 29,950 and Rs. 29,800 per 10 grams, each. The yellow metal had lost Rs. 200 on Wednesday, while Sovereign followed suit and fell by Rs. 100 to Rs. 24,400 per piece of 8 grams.

Silver ready dropped by Rs. 375 to Rs. 38,125/ kg and weekly-based delivery by Rs. 440 to Rs. 37,335/kg.  Silver coins also dipped by Rs. 1,000 at Rs. 71,000 for buying and Rs. 72,000 for selling of 100 pieces.

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