Gold prices gone down by Rs. 100 to Rs. 30,650 per 10 grams amid weakening global trend and muted demand from local jewellers at the bullion market, reported .
However, silver held steady at Rs. 39,200 per kg on scattered deals from industrial units and coin makers. Marketmen said, apart from a weak trend overseas, fall in demand from local jewellers and retailers at domestic spot market, mainly kept pressure on the gold prices.
Things to know about gold prices, silver rates today:
1. Globally, gold steadied on Monday ahead of a meeting of the US Federal Reserve this week that could yield clues to the future direction of US interest rates and the dollar, key factors for precious metals prices, reported .
Spot gold was steady at $1,223.14 per ounce, compared with a one-year low of $1,211.08 hit earlier this month. US gold futures for August delivery settled down $1.70, or 0.1 per cent, at $1,221.30 per ounce.
2. In Delhi, gold of 99.9 per cent and 99.5 per cent purity lost Rs. 100 each at Rs. 30,650 and Rs. 30,500 per 10 grams, respectively. The precious metal had shed Rs. 30 yesterday. Sovereign gold, however, remained steady at Rs. 24,600 per piece of eight grams.
3. “Comex gold is set for a fourth straight month of losses in longest stretch since 2013, with bears in the diving seat ahead of key policy meetings this week at world’s largest central bank.
There has not been any significant pick up in the investment demand as gold has lost its safe haven tag these days. The greenback is flat around 94.15.
US may post strong personal spending for June the evening hence outlook for the evening session is weak”, said Jigar Trivedi, fundamental research analyst commodities, AnandRathi Commodities.
4. On the other hand, silver ready ruled flat at Rs. 39,200 per kg, while weekly-based delivery recovered by Rs. 70 to Rs. 38,240 per kg on speculative buying.
5. Silver coins, however, continued to be traded at previous level of Rs. 74,000 for buying and Rs. 75,000 for selling of 100 pieces.>