Gold ends 4-day rally as prices decline today; key reasons behind fall

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Updated: January 18, 2019 4:14:28 PM

Gold prices today: After surging for 4 days, prices of gold on Friday fell by Rs 80 to Rs 33,220 per 10 gram in Delhi’s bullion market.

In Delhi, the gold of 99.9 per cent and 99.5 per cent purities fell by Rs 80 each to Rs 33,220 per 10 grams and Rs 33,070 per 10 gram, respectively.

Gold prices today: After surging for 4 days, prices of gold on Friday fell by Rs 80 to Rs 33,220 per 10 gram in Delhi’s bullion market. Weak demand from the local jewellers and weak trend overseas are the major reasons behind the fall in the rates of yellow metal, news agency PTI reported citing All India Sarafa Association.

In Delhi, the gold of 99.9 per cent and 99.5 per cent purities fell by Rs 80 each to Rs 33,220 per 10 grams and Rs 33,070 per 10 gram, respectively. In the past four days, gold prices have risen by Rs 425, news agency also reported.

Also read: Share Market Live: Sensex erases gains, Nifty near 10,850; Sun Pharma shares plunge 12%

Meanwhile, the Sovereign Gold Bond Scheme 2018-19 – Series V was opened by the government for subscription for the period from January 14, 2019 to January 18, 2019. The nominal value of the bond is fixed at Rs 3,214 per gram.

The Sensex made a smart rebound in the afternoon trade, to recover losses and end in the green. Sensex ended 12.53 points higher at 36,386.61, while the Nifty closed above the 10,900-mark.

Shares of Reliance Industries surged by more than 4.3% to close at Rs 1,182.95. Kotak Mahindra Bank shares zoomed by more than 1.4% to Rs 1,237.35.

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