Gold prices today: Yellow metal falls on weak demand; check rates in Delhi

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Updated: December 17, 2018 5:12:03 PM

Gold prices today: The prices of gold fell by Rs 190 to Rs 32,000 per 10 gram on Monday on account of fall in demand from local jewellers and weak overseas demand.

Gold rises Rs 350, silver, bullion,While yellow metal plunged 0.07 per cent to $1,238.20 an ounce, silver traded a a little  higher at $14.64 an ounce in Singapore, globally. (Reuters)

Gold prices today: The prices of gold fell by Rs 190 to Rs 32,000 per 10 gram on Monday on account of fall in demand from local jewellers and weak overseas demand. Silver prices, however, remained steady at Rs 38,400 per kg in capped activity, PTI reported. Due to weak demand in the wedding season, prices of gold have dipped, traders told PTI.

While yellow metal plunged 0.07 per cent to $1,238.20 an ounce, silver traded a  little higher at $14.64 an ounce in Singapore, globally. In Delhi, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 190 each to Rs 32,000 and Rs 31,850 per 10 gram, respectively, PTI reported.

Also read: How many Rs 2000 and Rs 500 notes did RBI print after demonetisation in Nov 2016? CIC wants to know

Meanwhile, last month, the government had said that it would soon bring out an integrated gold policy and set up a domestic gold council to promote growth in the sector.

Commerce Minister Suresh Prabhu had said the government is looking at the industry’s demand for cutting import duty on gold to four per cent from the current 10 per cent. “This is one of the important issues for the industry that is export-oriented. If you have import duties, the working capital gets blocked up. So, we are already working on that.

“At the same time, the Finance Ministry has a responsibility to curtail the CAD (current account deficit), therefore, they are also trying to find out how we can keep the imports under control. So, we have to balance both together,” the Minister had said.

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