For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Gold Slips Below Rs 30,000 On Weak Global Cues

|

Gold prices cracked below the Rs 30,000-level, tumbling by Rs 230 to Rs 29,820 per 10 grams at the bullion market today owing to slackened demand from jewellers and retailers at prevailing levels amid a weak trend overseas.

Check gold rates in India

Silver also eased by Rs 160 to Rs 41,100 per kg on lack of buying support from industrial units and coin makers.

Gold Slips Below Rs 30,000 On Weak Global Cues
 

Bullion traders said besides a weak trend overseas, subdued demand from jewellers and retailers at the domestic spot market led to the fall in gold and silver prices.

Globally, gold traded lower by 0.04 per cent to USD 1,273.50 an ounce in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity plunged by Rs 230 to Rs 29,820 and Rs 29,670 per 10 grams, respectively. It had edged up by Rs 25 in yesterday's trade.

Sovereign, however, remained unchanged at Rs 23,300 per piece of eight grams.

On the other hand, silver ready declined by Rs 160 to Rs 41,100 and weekly-based delivery by Rs 285 to Rs 41,090 per kg.

Silver coins, however, remained unchanged at Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces.

PTI

Read more about: gold gold rates
Story first published: Tuesday, May 17, 2016, 14:53 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more