Investor sentiment turned bearish owing to subdued trend overseas where gold weakened today.
Gold prices lost some sheen today amid weak global cues. Gold prices slipped by Rs. 30 to Rs. 30,750 per ten gram at the bullion market while silver shed Rs. 25 to Rs. 39,200 per kg, reported news agency Press Trust of India (PTI). Investor sentiment turned bearish owing to subdued trend overseas where gold weakened today as the dollar stood tall against its peers ahead of key central bank meetings and US inflation and payrolls data this week, traders said.
Here are five things to know about gold prices, silver rates today:
1. In the national capital, gold of 99.9 and 99.5 per cent purity declined by Rs. 30 each to Rs. 30,750 and Rs. 30,600 per ten gram, respectively. The yellow metal had gained Rs. 40 in Saturday’s trade, according to the PTI report.
2. Muted demand from local jewellers and retailers at the domestic spot markets dampened the investor sentiment, said market men.
3. Sovereign also traded lower by Rs. 100 to Rs. 24,600 per piece of eight gram.
4. Silver ready fell by Rs. 25 to Rs. 39,200 per kg and weekly-based delivery by Rs. 155 to Rs. 38,170 per kg. Silver coins however traded at previous level of Rs. 74,000 for buying and Rs. 75,000 for selling of 100 pieces.
5. In global markets, spot gold was down about 0.1 percent at $1,221.93 per ounce at 2:39 pm or 0909 GMT compared with a one-year low of $1,211.08 hit this month. U.S. gold futures were 0.3 percent lower at $1,219 an ounce, according to a report from news agency Reuters.
