Gold rose by Rs 300 to Rs 31,600 per 10 gram
Gold prices fell for the third consecutive day due to
weakness in the global market and decrease in demand from local
jewelers. On Saturday, gold dropped by Rs 300 to Rs 31,600 per ten gram
level. Silver also dropped by Rs 100 to Rs 40,500 per kg. The main reason
for the fall in silver is the decrease in demand from industrial units and coin
makers.
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Gold Declines
for These Reasons
-Traders said that due to weak global trends, the domestic
market is getting sluggish.
- Strong figures of employment in the US have raised the
pressure on the Federal Reserve to increase interest rates this month and there
is a possibility of a strong dollar recovery.
In the global market, gold in New York fell by 0.37 per cent
to $ 1,293.10 an ounce and silver by 0.06 per cent to $ 16.38 an ounce.
He said that due to weak demand from local jewelers and
retailers, the domestic spot market is getting lethargic.
300 rupees fall
in gold
In the national capital, 99.9 per cent and 99.5 per cent
purity gold dropped by Rs. 300 to Rs. 31,600 and Rs. 31,450 per ten gram
respectively. Earlier in the day, gold was broken by 190 rupees in two
days. On the other hand, if you talk about gold (8 grams) of gold, then it
was worth 24,800 rupees.
Silver Rupee
down by Rs 100
Silver also fell by Rs 100 to Rs 40,500 per kg on the yellow
metal. Weekly based delivery went down by Rs 145 to Rs 39,535 per
kg. At the same time, silver coins remained steady at Rs 76,000 (purchase)
and Rs 77,000 (sale) per 100 pieces.
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The Content of this Blog has taken from here https://money.bhaskar.com/news/MON-MARK-COMM-GOL-MRKT-gold-continues-slide-on-muted-demand-and-global-cues-5877547-NOR.html
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