Gold sinks below Rs.20,000

June 27, 2013 01:18 am | Updated June 07, 2016 09:43 am IST - KOCHI:

Gold (22 carat) touched another low, below the Rs.20,000 mark per 8 gm (1 sovereign), on Wednesday. The yellow metal lost Rs.440 per sovereign and was sold at Rs.19680. It was sold at Rs.20120 on Tuesday.

The rate per gm on Wednesday was Rs.2,460, down by Rs.55 in comparison to the rates on Tuesday (Rs.2,515). The prices had ruled below Rs.20,000 per sovereign for about a week in May as well as June. The lowest price in recent years, Rs.19,520, was recorded on May 20. The decrease is in tandem with the trends in the international bullion market.

The strengthening of the dollar and the weakening of the rupee are among reasons behind the present fall of gold, according to market sources.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.