1. Gold edges lower on weak buying sentiments, global cues

Gold edges lower on weak buying sentiments, global cues

Gold weakened further at the domestic bullion market here today due to lack of demand from stockists and retailers in the face of gloomy overseas sentiments.

By: | Mumbai | Published: July 21, 2016 6:02 PM
Gold weakened further at the domestic bullion market here today due to lack of demand from stockists and retailers in the face of gloomy overseas sentiments. Gold weakened further at the domestic bullion market here today due to lack of demand from stockists and retailers in the face of gloomy overseas sentiments.

Gold weakened further at the domestic bullion market here today due to lack of demand from stockists and retailers in the face of gloomy overseas sentiments.

Moreover, silver dipped further for the second session owing to lack of industrial buying support.

Standard gold (99.5 purity) declined by Rs 35 to close at Rs 30,730 per 10 grams from Wednesday’s finish of Rs 30,765.

Pure gold (99.9 purity) also moved down by a similar margin to settle at Rs 30,880 per 10 grams as compared to Rs 30,915 yesterday.

Silver (.999 fineness) fell by Rs 420 to end at Rs 46,160 from Rs 46,580 earlier.

Globally, yellow metal edged above a three-week low, as the dollar slipped and European shares also fell ahead of a European Central Bank policy meeting due later in the day.

Spot gold rose 0.4 percent to USD 1,320.96 an ounce in early European trade, after touching USD 1,310.56, its lowest since June 28.

U.S. gold was down 0.1 percent at USD 1,317.50 an ounce.

Spot silver, which fell in the last five sessions, rose 0.5 percent to USD 19.49 an ounce.

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