Gold Prices Improves Slightly

By Archana L
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    The prices of gold improved slightly on Monday, in India, even as the prices of the precious metal fell in the international market as the dollar index advanced towards 2018 peak.

    Gold Prices Improves Slightly

    The price of spot gold declined by 0.16 percent and touched $1,310.60 per ounce at 08:16 NYT. Spot gold opened for trading at a price of $1,317 per ounce on Monday.

    A drop in the German industrial orders served as an indication that softer economic data can encourage European Central Bank to postpone its stimulation measures.

    The German industrial orders unexpectedly dropped for the third month starting from March due to weak foreign demand, which in turn also affected the price of gold in the international markets.

    While the spot price of gold in India was down by Rs 1.92 and touched Rs 2,831.94 per gram.

    The price of spot silver rose to Rs 35,463.59 per kilogram, up by 0.17 percent in India.

    Spot Silver was down by $0.048 and recorded $16.455 an ounce, while palladium gained 1.04 percent to reach $974 in the international market.

    The price of gold per gram in India was recorded at Rs 3,074 for 22 karat gold and Rs 3,260 for 24 karat gold.

    Read more about: gold
    Story first published: Monday, May 7, 2018, 18:18 [IST]
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