INSUBCONTINENT EXCLUSIVE:
Gold, silver prices today: Globally, gold fell 0.07 per cent to $1,200 an ounce in Singapore.Snapping two-day rising streak, gold prices
edged lower by Rs 75 to Rs 31,650 per 10 grams at the bullion market on Wednesday, reported news agency Press Trust of India (PTI)
According to traders, gold prices fell today tracking a weak trend overseas amid easing demand from local jewellers
In the national capital, gold of 99.9 and 99.5 per cent purity fell by Rs 75 each to Rs 31,650 and Rs 31,500 per ten grams, respectively
are 10 things to know about gold prices, silver rates today:1
According to traders, sentiment turned bearish today largely in sync with a weak trend overseas where gold prices edged down as investors
Fall in demand from local jewellers and retailers at prevailing levels at domestic spot market, too weighed on gold prices today.3
The precious metal had gained Rs 275 in the previous two days
On Monday, gold prices gained Rs
While on Tuesday, gold rates climbed Rs
"Gold is stuck in no man's land with ordnance flying overhead
Prices hugged close to the $1,200 an ounce level that's been the norm since late August as investors await another rate rise from the
Federal Reserve and signals about the outlook, including an assessment of risks from the trade war", Jigar Trivedi, Fundamental Research
Analyst, Anand Rathi Commodities told TheIndianSubcontinent.7
A strong dollar makes dollar-priced gold costlier for non-US investors, while rising US interest rates typically deter investors from buying
a non-yielding asset such as gold.8
Gold dropped about 12 per cent since hitting a peak in April, marred by rising US interest rates and a global trade war that has led
investors to choose the dollar as a safe haven rather than gold.9
Silver coins remained steady at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces
