Gold, silver prices today: The precious metal had fallen by Rs 30 on Monday.Gold prices slipped by Rs 220 to Rs 31,650 per 10 gram amid weakening global trend and easing demand from local jewellers at the bullion market on Tuesday, reported news agency Press Trust of India (PTI).
Silver, too, remained weak and declined by Rs 50 per kg to Rs 39,250 per kg due to reduced offtake by industrial units and coin makers.
Sentiment remained downbeat in sync with a weak trend overseas as dollar firmed which eroded demand for the precious metal as a safe-haven, traders said.Here are 5 things to know about gold prices, silver rates:1.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity lost Rs 220 each to Rs 31,650 and Rs 31,500 per 10 gram, respectively.2.
Sovereign gold remained steady at Rs 24,600 per piece of 8 gram in restricted activity.3.
Globally, gold fell by 1.39 per cent to $1,187 an ounce in New York Monday.
Gold has held in a $34 range for the last 1-1/2 months, which some analysts say suggests resilience, supported by concerns over economic growth in emerging markets and inflationary pressures from rising US Treasury yields and soaring oil prices.4.
Silver, too, shed 2.39 per cent to $14.38 an ounce.
Besides, slackened demand from the local jewellers and retailers at the domestic spot markets fuelled the downtrend.5.
Silver also traded lower by Rs 50 to Rs 39,250 per kg and weekly-based delivery by Rs 120 to Rs 38,735 per kg.
On the other hand, silver coins continued to be traded at previous levels of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.