New Delhi: Extending its downward journey for the fourth straight session, gold prices tumbled by Rs 200 to hit nearly 11-month low of Rs 27,500 per ten grams in the national capital Thursday amid a weak trend in global markets.<\/p>\n
Besides, subdued demand from jewellers and retailers and a weak trend in futures trade also weighed on gold prices.<\/p>\n
Silver also remained under pressure for the fifth straight day and fell by Rs 500 to Rs 40,500 per kg.<\/p>\n
“Weak global cues and falling demand from jewellers on hopes of further dip in prices are pulling down gold prices”, jewellers said.<\/p>\n
Sentiments remained bearish as gold fell to 16-week low in the overseas markets as positive US economic data backed the case for the Federal Reserve to keep on reducing monetary stimulus which has dimmed the metal’s appeal.<\/p>\n
Gold in Singapore, which normally sets price trend on the domestic front, fell by 0.5 percent to USD 1,251.86 an ounce, the lowest since February 4 and silver by 0.9 percent to USD 18.85 an ounce, the lowest since May 1.<\/p>\n
Meanwhile, at the Multi Commodity Exchange (MCX), gold for delivery in June was down by 0.45 percent to Rs 26,712 per 10 grams.<\/p>\n
In Delhi, gold of 99.9 and 99.5 percent purity plunged by Rs 200 each to Rs 27,500 and Rs 27,300 per 10 grams, respectively, a level last seen on July 11 last year. It had lost Rs 620 in previous three days.<\/p>\n
Sovereign, however, held steady at Rs 24,600 per piece of eight grams in limited deals.<\/p>\n
In a similar fashion, silver ready moved down by Rs 500 to Rs 40,500 per kg and weekly-based delivery by Rs 360 to Rs 39,990 per kg. The white metal had lost Rs 700 in last four days.<\/p>\n
Silver coins also nosedived by Rs 2,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.<\/p>\n
PTI<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi: Extending its downward journey for the fourth straight session, gold prices tumbled by Rs 200 to hit nearly 11-month low of Rs 27,500 per ten grams in the national capital Thursday amid a weak trend in global markets. Besides, subdued demand from jewellers and retailers and a weak trend in futures trade also […]<\/p>\n","protected":false},"author":3,"featured_media":436603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-436602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-in-dubai"],"_links":{"self":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts\/436602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/comments?post=436602"}],"version-history":[{"count":0,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts\/436602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/media\/436603"}],"wp:attachment":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/media?parent=436602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/categories?post=436602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/tags?post=436602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}