As per All India Sarafa Association, gold price in the national capital region on Tuesday fell by Rs. 360 to Rs. 33,370/10 gm primarily due to weak global cues and lackluster demand from local jewellers. Silver also registered a fall in its price by Rs. 290 to Rs 37,560/ kg on account of decreased offtake by coin makers and industrial units.
In New York, spot gold was trading lower at US$ 1,322.70 per ounce after trade war concerns eased as the US decided to drop its threat of imposing tariffs on Mexico, thereby bringing down the appeal of gold as safe-haven. Silver also was priced lower at US$ 14.74 per ounce.
Gold of 99.9% and 99.5% purity declined in price in the national capital region by Rs. 360 each and was priced at Rs. 33,370 and Rs. 33,200 per 10 gm, respectively.