Gold prices slip for second day on stockists’ selling
Standard gold prices fell by ₹100 to end at ₹28,760 per 10 grams from Tuesday's level
Mumbai: Gold prices slipped for the second straight session at the bullion market on Wednesday due to sustained selling by stockists and jewellery traders.
Meanwhile, silver strengthened for the third day owing to industrial buying support. Standard gold (99.5 purity) fell by ₹ 100 to end at ₹ 28,760 per 10 grams from Tuesday’s level of ₹ 28,860.
Pure gold (99.9 purity) also eased by a similar margin to close at ₹ 28,910 per 10 grams against ₹ 29,010, previously. However, silver (.999 fineness) rose by ₹ 35 per kg to finish at ₹ 42,500 as compared to ₹ 42,465 earlier.
Globally, gold edged higher as uncertainty about Brexit talks, French elections and US President Donald Trump’s economic policies boosted safe haven buying, offsetting a firmer dollar.
Also Read| Global gold prices slip as dollar firms on US interest rate hike cues
Spot gold was up 0.1% at $1,252.35 per ounce at early trade. Spot silver slipped 0.1% to $18.14 per ounce. In the previous session, the metal hit $18.24, the highest since 2 March.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!