BackGold prices slide on weak global cues, muted demand
Standard gold prices plunged by ₹235 to finish at ₹29,110 per 10 grams from last Friday's closing level of ₹29,345.
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Mumbai: Gold prices fell by ₹ 235 per ten grams at the bullion market here today, tracking a weak trend overseas amid subdued demand from jewellers and customers. Silver followed suit and closed below the psychologically key ₹ 42,000-mark for the fifth session due to slackened buying support from industrial units.
Standard gold (99.5 purity) plunged by ₹ 235 to finish at ₹ 29,110 per 10 grams from last Friday’s closing level of ₹ 29,345. Pure gold (99.9 purity) also fell to end at ₹ 29,260 per 10 grams compared with ₹ 29,495 earlier. Silver (.999 fineness) also dipped by ₹ 480 per kg to finish at ₹ 41,545 from ₹ 42,025 previously.
Also Read: Global gold prices fall 1% as Macron wins first round of French presidential election
Globally, gold fell more than 1%, marking its biggest tumble in more than a month, after the market’s favoured candidate won the first round of the French election, easing worries over a political shock in the second round.
Spot gold was down 1% at $1,271 an ounce at early trade, having touched its lowest in nearly two weeks at $1,265.81. Spot silver was down 0.6% at $17.78 an ounce after touching a one-month low of $17.65.
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