Markets

Gold declines ₹166 on weak global trend

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Gold prices decline ₹166 to ₹38,604 per 10 gram; Silver fall by ₹402 to ₹45,178 per kg

Gold prices declined ₹166 to ₹38,604 per 10 gram in the national capital on November 25 amid sell-off in international markets, according to HDFC Securities.

The precious metal had closed at ₹38,770 per 10 gram on November 24.

“Spot gold price for 24 Karat in Delhi fell by ₹166 with sell-off in international gold prices,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Silver also fell by ₹402 to ₹45,178 per kg from ₹45,580 per kg in the previous trade.

In the international market, both gold and silver were trading lower at $1,458 per ounce and $16.86 per ounce, respectively.

Gold prices traded lower with international spot gold prices falling below $1,460 per ounce on November 25 on U.S. China trade deal optimism, Mr. Patel added.

Global equities were enthused by fresh optimism over a trade truce between the U.S. and China amid reports that an initial deal may be signed by the end of this year.

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Printable version | Dec 6, 2019 1:30:14 AM | https://www.thehindu.com/business/markets/gold-declines-166-on-weak-global-trend/article30076872.ece

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