NEW DELHI: Gold prices drifted lower by 0.23 per cent to Rs 29,235 per 10 ten grams in futures trade as speculators indulged in profit-booking at prevailing levels amid a weak trend overseas.At the Multi Commodity Exchange , gold for delivery in April fell by Rs 66, or 0.23 per cent, to Rs 29,235 per 10 grams in a business turnover of 515 lots.Similarly, metal for delivery in far-month June contracts traded lower by Rs 62, or 0.21 per cent, to Rs 29,290 per 10 grams in 1 lot.Analysts attributed the fall in gold futures to profit-booking by participants at existing levels and a weak trend overseas as higher dollar reduced the precious metal's appeal as a safe haven.Globally, gold fell 0.13 per cent to $1,235.40 an ounce in New York yesterday.
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Following gold, silver ready traded lower by Rs 100 to Rs 43,100 per kg and weekly-based delivery by Rs 70 to Rs 42,655 per kg. Gold prices slumped by Rs 200 to Rs 29,750 per 10 gram at the bullion market on Wednesday, tracking a weak trend overseas amid fall in demand from local jewellers. Silver also declined by Rs 100 to Rs 43,100 per kg due to reduced off-take by industrial units and coin-makers. Marketmen said that apart from a weak trend overseas, the fall in demand from local jewellers and retailers at prevailing levels mainly pulled down gold prices. In the national capital, gold of 99.9 and 99.5 per cent purity fell by Rs 200 each to Rs 29,750 and Rs 29,600 per 10 gram, respectively.
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Gold recovers to Rs 29,850 on global cues, jewellers' demand
Gold prices recovered by Rs 100 to Rs 29,850 per 10 grams at the bullion market today on positive global cues and uptick in demand from local jewellers. Silver ready too edged up by Rs 100 to Rs 43,200 per kg, while weekly-based delivery shed Rs 65 to Rs 42,590 per kg for want of support from speculators. Silver also rebounded by Rs 100 to Rs 43,200 per kg due to increased offtake by industrial units and coin makers. In the national capital, gold of 99.9 per cent and 99.5 per cent purity recovered by Rs 100 each to Rs 29,850 and Rs 29,700 per 10 grams, respectively. Bullion traders attributed the recovery in gold prices to a firm trend overseas amid increased buying by local jewellers to meet the ongoing marriage season demand.Following gold, silver ready traded lower by Rs 100 to Rs 43,100 per kg and weekly-based delivery by Rs 70 to Rs 42,655 per kg. Gold prices slumped by Rs 200 to Rs 29,750 per 10 gram at the bullion market on Wednesday, tracking a weak trend overseas amid fall in demand from local jewellers. Silver also declined by Rs 100 to Rs 43,100 per kg due to reduced off-take by industrial units and coin-makers. Marketmen said that apart from a weak trend overseas, the fall in demand from local jewellers and retailers at prevailing levels mainly pulled down gold prices. In the national capital, gold of 99.9 and 99.5 per cent purity fell by Rs 200 each to Rs 29,750 and Rs 29,600 per 10 gram, respectively.
read more visit us gold
collected by :Jack Luxor
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