Categories: Business

Gold and silver price fall on weak global cues

Photo: FILE

gold and silver price today

new Delhi. Given the selling of precious metals in the international market, gold and silver prices also fell on Thursday in the local bullion market. According to information provided by HDFC Securities, gold fell by Rs 1,492 to Rs 52,819 per 10 grams. In the previous trading session, gold had closed at Rs 54,311 per 10 grams. Silver also weakened in the local bullion market and fell by Rs 1,476 to Rs 67,924 per kg. Silver had closed at Rs 69,400 per kg in the previous trading session.

In the international market, gold prices weakened to $ 1,927 an ounce, while silver rose marginally to $ 26.71 an ounce. HDFC Securities Senior Analyst (Commodity) Tapan Patel said, "After the release of the details of the meeting of the US Federal Open Market Committee (FOMC) on Thursday, the gold price continued to fall due to the strengthening of the dollar."

At the same time, the decline in spot futures prices of precious metals was also seen due to falling demand. At the Multi Commodity Exchange, the delivery gold contract price for the month of October fell by Rs 644, or 1.22 per cent, to Rs 51,978 per 10 grams. It traded for 15,439 lots. The contract for delivery of gold for December was down by Rs 627, or 1.19 per cent, to Rs 52,176 per 10 grams. It traded for 2,784 lots. On the other hand, silver for delivery in September fell by Rs 1,012, or 1.49 per cent, to Rs 66,951 per kg with a turnover of 10,166 lots.

This post was published on August 20, 2020 8:57 pm

Content Team

Recent Posts

Ban on gaming apps hopes for opportunity for domestic sector

Photo: MEDIATEK online gaming new Delhi. The government has banned 118 apps keeping in mind the security of the country.…

India august gold imports double to hit 8 months peak says source

Photo: TIMESOFINDIA gold import at 8 months high new Delhi. The economy is now looking forward to a gradual recovery.…

Coal India Q1 profit plunges 55 percent YoY

Photo: GOOGLE Coal India Q1 result new Delhi. Coal India's profit fell 55 per cent in the first quarter to…