Gold dips below Rs 26,000 on global cues, sluggish demand

By: |
New Delhi | December 14, 2015 5:21 PM

Traders said besides weak global cues as investors await a decision on US interest rate increase, muted demand from jewellers and retailers at the domestic spot market led to the fall in the prices of precious metals here

gold pricesIn the national capital, gold of 99.9 and 99.5 per cent purity plunged by Rs 150 each to Rs 25,850 and Rs 25,700 per ten grams, respectively. It had climbed Rs 290 in Saturday’s trade. (Reuters photo)

Gold prices slipped below 26,000 by falling Rs 150 to Rs 25,850 per ten gram at the bullion market today, tracking a weak trend overseas amid subdued demand from jewellers.

Silver followed suit and eased by Rs 150 to Rs 33,700 per kg on reduced offtake by industrial units and coin makers.

Traders said besides weak global cues as investors await a decision on US interest rate increase, muted demand from jewellers and retailers at the domestic spot market led to the fall in the prices of precious metals here.

Globally, gold fell 0.3 per cent to USD 1,071.25 an ounce in Singapore.

In the national capital, gold of 99.9 and 99.5 per cent purity plunged by Rs 150 each to Rs 25,850 and Rs 25,700 per ten grams, respectively. It had climbed Rs 290 in Saturday’s trade.

Sovereign, however, remained flat at Rs 22,200 per piece of eight grams.

Following gold, silver ready declined by Rs 150 to Rs 33,700 per kg and weekly-based delivery by Rs 125 to Rs 33,855 per kg.

However, silver coins were well maintained at last levels of Rs 48,000 for buying and Rs 49,000 for selling of 100 pieces.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Diesel price hits century in West Bengal
2Costliest fuel in India? Petrol crosses Rs 119 per litre in border districts of MP; diesel touches Rs 108
3Petrol price up Rs 36 a litre, diesel 26.58 in less than 18 months