INSUBCONTINENT EXCLUSIVE:
Sovereign gold, however, remained unaltered at Rs 24,700 per piece of eight gramsGold prices on Wednesday tumbled by Rs 250 to trade at over
five-month low of Rs 30,800 per 10 grams at the bullion market amid weakening global trend and considerable fall in demand from local
jewellers, reported news agency Press Trust of India (PTI)
Silver followed suit and dropped by Rs 620 to Rs 39,200 per kg on poor off take by industrial units and coin makers
Traders said sentiment was downbeat as gold prices slipped to their lowest in a year in global markets, as the dollar firmed after Federal
Reserve Chairman Jerome Powell's US economic outlook reinforced views that the central bank is on track to steadily hike interest rates,
Globally, spot gold was largely unchanged at $1,227.78 an ounce in early day trade
On Tuesday, it fell 1 per cent and hit its lowest since last July at $1,225.58 an ounce, reported news agency Reuters
US gold futures for August delivery were little changed at $1,227.80 an ounce.Besides, muted demand from local jewellers and retailers at
In Delhi, gold of 99.9 per cent and 99.5 per cent purity plunged by Rs 250 each to Rs 30,800 and Rs 30,650 per 10 grams, respectively, a
level last seen on February 8, 2018
The precious metal had lost Rs 100 yesterday
Sovereign, however, remained unaltered at Rs 24,700 per piece of eight grams.3
Analysts expect the price of gold to dip to Rs
We may see a jump in physical demand for advance purchasing of jewellery in August since wedding season will kick-start post Diwali in
November," says Gaurav Katariya, research head, commodities, Arihant Securities.:Top Five Factors That May Guide Gold Prices In Near Term4
Following gold, silver ready dropped by Rs 620 to Rs 39,200 per kg and weekly-based delivery by Rs 690 to Rs 38,290 per kg.5
Silver coins, on the other side, were unaltered at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces in scattered deals.(With
