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Gold Prices Fall On Weak Global Cues And Tepid Local Demand
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.
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