The Hindu declare : Gold remains weak on global cues; silver slumps below ₹40k : 2017-05-05

collected by :Irax John

according to Tracking gold, silver ready dropped by ₹500 to ₹39,500 per kg while weekly-based delivery fell by ₹135 to ₹38,750 per kg. Globally, gold fell 0.26 per cent to USD 1,253.60 an ounce and silver slipped 0.36 per cent to USD 16.75 an ounce in Singapore. more-inDeclining for the third straight session, gold prices tumbled ₹200 to ₹29,150 per 10 grams at the bullion market today on weak global cues and slump in demand from local jewellers. Silver also cracked below the ₹40,000-mark by falling ₹500 to ₹39,500 per kg on reduced offtake by industrial units and coin makers. Silver coins too plummeted by ₹1,000 to ₹70,000 for buying and ₹71,000 for selling of 100 pieces.


referring to Gold prices drifted lower by Rs 172 to Rs 28,300 per 10 grams in futures trade today as participants lightened positions, largely in step with a weak trend overseas. In futures trading, gold for delivery in June was trading Rs 172 lower, or 0.60 per cent down, at Rs 28,300 per 10 grams at the Multi Commodity Exchange with a business turnover of 973 lots. The metal for delivery in August shed Rs 162, or 0.77 per cent, to Rs 28,412 per 10 grams in 12 lots. Globally, gold fell 1.53 per cent to USD 1,237.70 an ounce in New York yesterday. (This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
referring to

Gold extends losses, sheds ₹30 on global cues, muted demand

more-inFalling for the fifth straight session, gold prices fell by ₹30 to ₹28,850 per 10 grams at the bullion market today, tracking a weak trend overseas amid low demand from local jewellers. Following gold, silver ready declined by ₹50 to ₹38,800 per kg, while weekly-based delivery regained the ₹38,000-mark by rising ₹195 to ₹38,145 per kg on speculative buying. On the other hand, silver coins remained steady at ₹69,000 for buying and ₹70,000 for selling of 100 pieces. Silver also remained under selling pressure and shed ₹50 to ₹38,800 per kg due to reduced offtake by industrial units and coin makers. Globally, gold fell 0.78 per cent to USD 1,228 an ounce and silver by 0.91 per cent to USD 16.30 an ounce in New York in yesterday's trade.

Gold extends losses, sheds ₹30 on global cues, muted demand


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