Gold jewellery is seen displayed for sale at a shop.  (Reuters)
Gold jewellery is seen displayed for sale at a shop. (Reuters)

Gold prices fall for fourth day in a row, silver rates

  • In global markets, gold was little changed today as investors awaited clarity on the ongoing US-China trade talks
  • Analysts expect gold prices to be range-bound around $1,305-$1,315 levels until the trade talks are over

NEW DELHI : Gold prices today fell amid slackened demand from local jewellers, extending their decline to the fourth straight day. Gold rates today slipped by 50 to 34,000 per 10 grams at the bullion market, Press Trust of India reported. The precious metal had lost 230 in the previous three days. Tracking gold, silver prices fell 150 to 40,650 per kg owing to reduced offtake by industrial units and coin makers.

In Delhi, gold of 99.9% and 99.5% purities edged lower by 50 each to 34,000 and 33,850 per 10 grams, respectively. Sovereign gold also weakened by 100 to 26,000 per piece of eight grams. Tracking gold, silver ready declined by 150 to 40,650 per kg, while weekly-based delivery fell by 134 to 39,490 per kg. On the other hand, silver coins continued to be traded at 80,000 for buying and 81,000 for selling of 100 pieces.

In global markets, gold was little changed today as investors awaited clarity on the ongoing US-China trade talks. Prices held above $1,300 per ounce, weighed down by a higher dollar. The dollar index rose to a two-month high, making bullion costlier for investors holding other currencies.


Higher global equity markets also dented gold's appeal. European shares climbing to a three-month high on optimism about US-China trade talks. US President Donald Trump said on Wednesday the talks were "going along very well".

Global gold prices touched a more than one-week high of $1,318.12 on Wednesday, but pared gains later in the session as the greenback benefited from sustained strength in core US inflation.

Analysts expect gold prices to be range-bound around $1,305-$1,315 levels until the trade talks are over.

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