Gold slides on muted demand, weak global cues

Gold prices fell to ₹32,000 per 10 gram; Silver ready remained flat at ₹38,400 per kg

December 17, 2018 05:19 pm | Updated 05:41 pm IST - New Delhi

Gold prices fell by ₹190 to ₹32,000 per 10 gram at the bullion market on Monday, owing to slackened demand from local jewellers amid a weak trend overseas.

On the other hand, silver prices remained steady at ₹38,400 per kg in restricted activity.

Traders said tepid demand from local jewellers and retailers at domestic spot markets due to end of wedding season and a weak trend overseas, mainly weighed on the precious metal prices.

Globally, gold fell 0.07% to $1,238.20 an ounce, while silver traded a shade higher at $14.64 an ounce in Singapore.

In the national capital, gold of 99.9% and 99.5% purity dropped by ₹190 each to ₹32,000 and ₹31,850 per 10 gram, respectively. It had lost ₹30 on Saturday.

Sovereign gold, however, remained steady at ₹25,000 per piece of 8 gram.

Silver ready remained flat at ₹38,400 per kg, while silver weekly-based delivery declined by ₹124 to ₹37,930 per kg.

Silver coins remained unchanged at ₹74,000 for buying and ₹75,000 for selling of 100 pieces.

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.