1. Gold, silver fall on global cues

Gold, silver fall on global cues

Gold prices slipped today at the domestic bullion market here today on weak global cues as well as fall in domestic demand from local jewelers.

By: | Mumbai | Published: August 1, 2017 6:21 PM
Gold, Silver, Global Cues, gold prices, silver price, gold prices slipped, silver prices slipped, gold market, silver market Silver too lost sheen owing to lack of industrial buying support.

Gold prices slipped today at the domestic bullion market here today on weak global cues as well as fall in domestic demand from local jewelers.  Silver too lost sheen owing to lack of industrial buying support.  Standard gold (99.5 purity) dropped by Rs 45 to end at Rs 28,495 per 10 grams from Monday’s closing level of Rs 28,540.  Pure gold (99.9 purity) also moved down by a similar margin to conclude at Rs 28,645 per 10 grams as compared to Rs 28,690 previously. Silver (.999 fineness) fell by Rs 95 per kg to close at Rs 38,260 as against Rs 38,355 yesterday.

Globally, Gold prices edged down from the highest levels in almost seven weeks as the dollar rose and investors locked in profits from bullion’s rally last month. Spot gold dipped 0.1 per cent to USD 1,267.52 per ounce in the early trade. It rose 2.2 per cent last month, its biggest monthly gain since February. US gold futures for August were unchanged at USD 1,266.60 per ounce. In other precious metals, silver rose 0.1 per cent to USD 16.79 per ounce.

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