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Gold price hits over 3-month low, falls by Rs 145 to Rs 28,720 per ten grams

Tracking in line with global markets, gold prices fell by Rs 145 to trade at over three-month low of Rs 28,720 per ten grams at Delhi bullion market Friday.


Gold price hits over 3-month low, falls by Rs 145 to Rs 28,720 per ten grams

Zee Media Bureau

Tracking in line with global markets, gold prices fell by Rs 145 to trade at over three-month low of Rs 28,720 per ten grams at Delhi bullion market Friday.

Apart from a weak trend overseas, muted demand from jewellers and retailers at domestic spot market mainly weighed on the prices.

Globally, gold was nearly unchanged today but headed for a fifth consecutive weekly decline, as the dollar and Asian stocks held steady and the market awaited US nonfarm payroll data.

Spot gold was nearly flat at USD 1,211.40 per ounce. It touched a low of USD 1,206.60 earlier in the session and remained on track for its fifth straight weekly loss.

In the national capital, gold of 99.9 and 99.5 percent purity slipped by Rs 145 each to Rs 28,720 and Rs 28,570 per ten grams, respectively, a level last seen on February 18, 2016. The precious metals had lost Rs 135 yesterday.

On the other hand, silver ready recovered by Rs 200 to Rs 38,800 per kg and weekly-based delivery by Rs 95 to Rs 38,590 per kg.

From Zee News

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