Gold Prices Fall By Rs. 70 Due To Weak Demand Ahead Festive Season
New Delhi: The price of gold of 99.9% purity fell by Rs. 70 to 32,180 per 10 gram while gold of 99.5% purity fell by Rs. 80 to 32,020 per 10 gram on Tuesday at the Delhi bullion market. This miniscule fall in the price of the precious metal comes after it gained Rs. 200 on Monday.
The prices of the yellow metal fell due to decline demand from local jewellers amid a weak trend overseas. Diversion of funds towards rising equity markets also contributed to the fall.
Silver also slipped by Rs. 50 to 39,700 per kg. Silver coins, however, continued to be traded at the previous level of Rs. 75,000 for buying and Rs. 76,000 for selling of 100 pieces
Globally, gold fell by 0.07% to 51,226.90 an ounce and silver by 0.20% to 514.73 an ounce.