India Gold Rates Fall Marginally On Weak Global Cues

Gold rates in India fell marginally, as the precious metal came off 3-week highs in the international markets.

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Gold rates in India fell marginally as international prices declined. This was largely after the precious metal hit a 3-week high and declined globally. Gold for both 22 karats and 24 karats saw a small decline in trade.

India Gold Rates Fall Marginally On Weak Global Cues
In the international markets, gold dropped to $1241 an ounce, and came off three month highs. The precious metal had rallied as politcal uncertainty in several places like France, where there are Presidential elections led investors to take shelter in gold.

In India, gold for both 22 karats and 24 karats was marginally lower, as investors digested a whole lot of data. In Mumbai gold for 22 karats was trading near the 28,100 mark per 10 grams.

It is unlikely that we sill see any sharp movement in gold on either side. Several investors are eagerly waiting for the prices of the precious metal to fall. Whether that would happen is still a guess.

Check gold rates in Indian cities here

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Read more about: gold
Story first published: Thursday, February 9, 2017, 11:43 [IST]
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