INSUBCONTINENT EXCLUSIVE:
Sovereign however remained steady at Rs 24,500 per piece of eight gram in limited deals.Gold eased by Rs 50 to Rs 31,200 per 10 gram at the
bullion market on Tuesday on subdued demand from local jewellers amid a weak overseas trend, reported news agency Press Trust of India
However, silver rose by Rs 150 to Rs 37,850 per kg on scattered enquiries from industrial units and coin makers
Marketmen said gold fell in tandem with a weak global trend where the metal slipped Tuesday as the dollar hit a one-week high on the back of
intensifying global trade tensions and economic worries in emerging markets
Furthermore, sluggish demand from local jewellers and retailers at the domestic spot market put pressure on gold prices.Here are the key
things to know about gold, silver prices today:1
Globally, spot gold was down 0.3 percent at $1,196.90 an ounce in the early-day trade, while US gold futures had dropped 0.4 per cent at
$1,202.10 an ounce, reported Reuters.The yellow metal is down about 8 per cent this year amid rising US interest rates, trade disputes and
the Turkish currency crisis, with investors parking their money in the dollar, which is being viewed as a safe-haven asset.2
In Delhi, gold of 99.9 per cent and 99.5 per cent purity shed Rs 50 each to Rs 31,200 and Rs 31,050 per 10 gram, respectively
The precious metal had lost Rs 100 yesterday
"MCX gold declines, extending fifth straight monthly loss in August, as dollar stays strong amid prospects for escalating US trade tensions
The COMEX gold is trading in a tight range from $1,190 to $1,205
Key data to watch for this week will be non-farm payrolls
On the MCX, Rs 30,400 is very strong resistance on flip side Rs 30,100 is support," said said Jigar Trivedi, Fundamental Research Analyst,
US will release ISM manufacturing PMI so market may stay volatile in the second session too."4
Silver coins however remained flat at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.(With agency inputs)
