NEW DELHI: Taking weak cues from the worldwide market and fall in call for from native jewellers, gold costs dipped beneath the Rs 32,000-mark via plunging Rs 400 to Rs 31,750 in line with 10 grams on the bullion market all through the week. Silver also weakened on poor offtake via commercial devices and coin makers.
Traders mentioned sentiment grew to become bearish in sync with the weak trend out of the country as prospects of higher US rates of interest are adverse for dollar-priced gold.
Globally, gold ended the week at $1,222.74 in line with ounce and silver at $14.27 an ounce in New York.
In addition, a considerable fall in call for from jewellers and outlets on the home spot market put force on the costs, they mentioned.
In the nationwide capital, gold of 99.nine and 99.five in line with cent purity started the week on a subdued be aware and closed at Rs 31,750 and Rs 31,600 in line with 10 grams respectively, appearing a fall of Rs 400 each and every.
Sovereign, after closing stable at Rs 24,800 in line with piece of 8 grams for the easier part of the week on some strengthen, got here under force on Saturday and ended with a fall of Rs 100 at Rs 24,700.
In line with total tendencies, silver able traded in the adverse zone during the week and ended lower via Rs 850 to Rs 37,300 in line with kg and weekly-based supply dropped via Rs 923 Rs 36,100 in line with kg.
Silver coins, alternatively, remained unchanged at Rs 73,000 for buying and Rs 74,000 for promoting of 100 pieces.
Traders mentioned sentiment grew to become bearish in sync with the weak trend out of the country as prospects of higher US rates of interest are adverse for dollar-priced gold.
Globally, gold ended the week at $1,222.74 in line with ounce and silver at $14.27 an ounce in New York.
In addition, a considerable fall in call for from jewellers and outlets on the home spot market put force on the costs, they mentioned.
In the nationwide capital, gold of 99.nine and 99.five in line with cent purity started the week on a subdued be aware and closed at Rs 31,750 and Rs 31,600 in line with 10 grams respectively, appearing a fall of Rs 400 each and every.
Sovereign, after closing stable at Rs 24,800 in line with piece of 8 grams for the easier part of the week on some strengthen, got here under force on Saturday and ended with a fall of Rs 100 at Rs 24,700.
In line with total tendencies, silver able traded in the adverse zone during the week and ended lower via Rs 850 to Rs 37,300 in line with kg and weekly-based supply dropped via Rs 923 Rs 36,100 in line with kg.
Silver coins, alternatively, remained unchanged at Rs 73,000 for buying and Rs 74,000 for promoting of 100 pieces.
Gold price declines on weak global cues, low demand
![Gold price declines on weak global cues, low demand]()
Reviewed by Kailash
on
November 24, 2018
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