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Gold Prices Headed For Their Biggest Fall In 8 Months

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In the international market, gold prices may have slipped slightly on Friday but are headed for the worst monthly performance since August 2018. Strengthening US dollar and global equities have pushed the metal for its first weekly fall in four. It has lost around 1.8 percent in March.

Spot gold fell by 0.1 percent to $1,288.74 an ounce extending its decline of 1.5 percent seen in the previous session. On a quarterly basis, however, the yellow metal is on track for its second straight rise as concerns of a global economic slowdown loom.

US gold futures declined by 0.1 percent to $1,288 an ounce. Meanwhile, the dollar was poised for its strongest monthly gain and Asian equity markets rose over reports of progress in trade talks between the US and China. Gains in the US dollars and gold move in opposite directions.

New Delhi and Mumbai
 

New Delhi and Mumbai

Gold price in New Delhi fell to Rs 30,850 per 10 grams of 22 carats while rates in Mumbai rose slightly to Rs 31,460.

Chennai, Bangalore and Hyderabad

Chennai, Bangalore and Hyderabad

Gold prices in the South Indian cities of Chennai, Bangalore and Hyderabad fell to Rs 30,180, Rs 29,600 and Rs 30,180 per 10 grams of 22 carats respectively.

Kolkata and Chandigarh

Kolkata and Chandigarh

Gold price in Kolkata fell to Rs 31,090 per 10 grams of 22 carats while rates in Chandigarh rose slightly to Rs 31,210.

Silver Rates

Silver Rates

Silver rates across Indian cities remained flat at Rs 41,500 per kg.

Read more about: gold
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