Gold Plunges To Nearly Rs 29,000 On Global Cues

Posted By:
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Gold prices tumbled by Rs. 250 to Rs. 29,100 per 10 gram at the bullion market today, tracking a weak trend overseas and muted demand from local jewellers.

    Silver also dropped by Rs. 450 to Rs. 40,000 per kg due to reduced offtake by industrial units and coin makers.

    Traders said a weak trend overseas as investors await the release of key US employment data later this week and fading demand from local jewellers at the domestic spot markets mainly pulled down gold prices.

    Gold Plunges To Nearly Rs 29,000 On Global Cues

    Globally, gold fell by 0.02 per cent to $1,262.60 an ounce and silver by 0.49 per cent to $17.29 an ounce in Singapore.

    In the national capital, gold of 99.9 per cent and 99.5 per cent purity slumped by Rs. 250 each to Rs. 29,100 and Rs. 28,950 per 10 grams, respectively.

    Sovereign, however, remained unaltered at Rs. 24,400 per piece of eight grams.

    In sync with gold, silver ready dropped by Rs. 450 to Rs. 40,000 per kg and weekly-based delivery by Rs. 400 to Rs. 40,015 per kg.

    On the other hand, silver coins held steady at Rs. 72,000 for buying and Rs. 73,000 for selling of 100 pieces.

    Goodreturns.in

    Read more about: gold dollar
    Story first published: Wednesday, May 31, 2017, 16:34 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    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