Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Market / Stock-market-news/  Gold prices drop for 6th session on sluggish demand
BackBack

Gold prices drop for 6th session on sluggish demand

Standard gold (99.5%) prices dropped by Rs200 to finish at Rs28,065 per 10 grams from Tuesday's closing level of Rs28,265

Spot gold edged up 0.4% to $1,203.31 per ounce in early trade. Photo: MintPremium
Spot gold edged up 0.4% to $1,203.31 per ounce in early trade. Photo: Mint

Mumbai: Gold prices dropped for the sixth session at the domestic bullion market in Mumbai due to reduced buying from stockists and retailers in spite of global higher cues. Silver also moved down owing to lack of buying support from industrial users.

Standard gold (99.5%) slumped by 00 to finish at 8,065 per 10 grams from Tuesday’s closing level of 8,265. Pure gold (99.9%) also dropped by a similar margin to conclude at 8,215 per 10 grams as against 28,415 earlier.

Also Read: Gold prices lose Rs250 on US rate hike bets

Silver (.999 fineness) dropped by 40 per kg to end at 0,640 compared to 40,880 previously.

In global trade, gold prices edged up on safe-haven buying due to uncertainty over the outcome of Dutch elections, while markets waited for clues on the pace of US interest rate hikes this year.

Spot gold edged up 0.4% to $1,203.31 per ounce in early trade. Spot silver rose 0.5% to $16.92 an ounce.

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!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 15 Mar 2017, 06:45 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App