Breaking |

Breaking |

Gold extends losses on weak global cues, muted demand
Published : Sep 28, 2018, 4:14 pm IST
Updated : Sep 28, 2018, 4:14 pm IST
SHARE ARTICLE
Gold dropped by Rs 250
Gold dropped by Rs 250

Gold dropped by Rs 250 to Rs 31,300 per ten gram at the bullion market Friday, extending its slide for the third straight day largely...

Gold dropped by Rs 250 to Rs 31,300 per ten gram at the bullion market Friday, extending its slide for the third straight day largely in tandem with a weakening global trend amid tepid demand from local jewellers. Silver followed suit and dropped by Rs 450 to Rs 38,000 per kg due to poor offtake by industrial units and coin makers. Traders said gold prices took a hit owing to a weak global trend as the dollar firmed up after upbeat US economic data supported the Federal Reserve's resolve for steady interest rate hikes over the next year.

Gold prices took a hit owing to a weak global trend: TradersGold prices took a hit owing to a weak global trend: Traders

Advertisement

Globally, gold fell 0.98 per cent to USD 1,182.40 an ounce and silver by 0.42 per cent to USD 14.24 an ounce in New York Thursday. Besides, fading demand from local jewellers and retailers at domestic spot market, too, fuelled the downtrend, they said. In the national capital, gold of 99.9 per cent and 99.5 per cent purity plunged by Rs 250 each to Rs 31,300 and Rs 31,150 per ten gram, respectively. It had lost Rs 175 in the previous two days.

Gold of 99.9 per cent and 99.5 per cent purity plunged by Rs 250 eachGold of 99.9 per cent and 99.5 per cent purity plunged by Rs 250 each

Sovereign gold, however, remained unaltered at Rs 24,500 per piece of eight gram in limited deals. In sync with gold, silver ready drifted down by Rs 450 to Rs 38,000 per kg and weekly-based delivery by Rs 110 to Rs 37,860 per kg. Silver coins, however, maintained a steady trend at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.

Advertisement

Location: India, Delhi, New Delhi

SHARE ARTICLE

PTI

Advertisement
Advertisement

Exclusive Interview: Sports Minister Meet Hayer on the Cricket Pitch | Nimrat Kaur | SpokesmanTv

07 Nov 2023 5:55 PM

"Spokesman Di Sath" at Ghagwal Village, Major Revelations by villagers

09 Oct 2023 6:30 PM

Drugs Being sold inside the Jail, Major revelation of this prisoner on Spokesman Tv......

06 Sep 2023 6:01 PM

Sukhjinder Randhawa's Son Udayveer's Major Statement After Fight Video Went Viral | Interview

31 Aug 2023 6:45 PM

Exclusive Disclosure in Kotakpura Firing Case, Spokesman got Solid Evidence! Watch the video!

31 Aug 2023 6:43 PM
Advertisement