After logging gains for two days, gold price today headed lower by Rs 15 to Rs 30,700 per 10 grams ahead of the auspicious Dhanteras tomorrow as buyers put off their buying activity amid a weak trend overseas. Silver cracked below the Rs 43,000-mark by falling Rs 300 to Rs 42,700 per kg due to reduced off-take by industrial units and coin makers. Traders said that besides the muted trend overseas, absence of buying by jewellers and retailers on the eve of Dhanteras, which is considered auspicious to snap up gold, mainly led to the modest fall in the precious metal prices.
“Buying activity is likely to pick up tomorrow on Dhanteras day, considered to be an auspicious day for buying gold, silver and other valuables,” said Rakesh Anand of R K Jewellers. Globally, gold fell 0.50 per cent to USD 1,266.70 an ounce and silver 0.82 per cent to USD 17.60 an ounce in New York yesterday. Meanwhile, state-run trading firm MMTC has tied up with seven banks, including ICICI and HDFC Bank, to sell government minted ‘Indian Gold Coin’ in order to cash in on Dhanteras buying rush.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 15 each at Rs 30,700 and Rs 30,550 per 10 grams, respectively. The precious metal had gained Rs 300 in the previous two days. Sovereign, however, remained flat at Rs 24,500 per piece of eight grams in scattered deals.
Following gold, silver ready dropped by Rs 300 to Rs 42,700 per kg and weekly-based delivery by Rs 305 to Rs 42,185 per kg. Silver coins, however, held steady at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.
- Here’s Why Delhi-NCR Gets Pollution Code On Lines Of Beijing
- PM Modi Is More Interested In TRP Politics Rahul Gandhi At Congress Parliamentary Meet
- Bigg Boss 10 December 1 Review: Priyanka Jagga Succeeds In Her Divide And Rule Strategy
- Kahaani 2 Audience Reaction: Vidya Balan Starrer Thriller Gets Mixed Reviews
- Find Out What PM Modi Said About Demonetisation On LinkedIn
- Row Over West Bengal ”Military Coup” Issue Escalates: Who Said What
- Here’s How Mohammad Kaif Replied To Virender Sehwag’s Birthday Wish On Twitter
- West Bengal CM Mamata Banerjee’s Flight Reportedly Had Low Fuel: Here’s What Happened
- Reliance Jio Welcome Offer Extended Till March 31, JioMoney Launched
- Uri Attackers Came From Pakistan, Establishes Digital Data
- Bigg Boss 10 Nov 30 Episode Review: Captaincy Brings Differences In Manoj Punjabi & Manveer Gurjar
- Congress Vice President Rahul Gandhi’s Official Twitter Handle Hacked
- After Rahul Gandhi’s Twitter Handle, Congress Official Twitter Account Hacked
- 3 Dead As Army Helicopter Crashes In Sukna In West Bengal
- BJP, Congress Engage In War Of Words Over Nagrota Attack: Find Out More