New Delhi: Gold
prices slipped by Rs. 90 to Rs. 31,860 per ten gram at the bullion market today on
slackened demand from local jewellers, shrugging off a firm trend overseas. On
the other hand, silver ready surged by Rs. 400
to Rs. 41,950 per kg backed by increased
offtake by industrial units and coin makers.
Traders said easing demand from local jewellers as well as retailers at the domestic spot market led to the downtrend in gold prices, but a firm trend overseas capped the fall.
Globally, Gold prices hit a two-week high on Thursday, supported by a weaker dollar and trade worries between Washington and Beijing, even as the US Federal Reserve forecast a slightly faster pace of interest rate hikes this year. Spot gold rose 0.3 percent to $1,302.50 per ounce at 0744 GMT. It earlier hit a high of $1,303.38 an ounce, its best since May 31. US gold futures for August delivery rose 0.4 percent to $1,306 per ounce.
Traders said easing demand from local jewellers as well as retailers at the domestic spot market led to the downtrend in gold prices, but a firm trend overseas capped the fall.
Globally, Gold prices hit a two-week high on Thursday, supported by a weaker dollar and trade worries between Washington and Beijing, even as the US Federal Reserve forecast a slightly faster pace of interest rate hikes this year. Spot gold rose 0.3 percent to $1,302.50 per ounce at 0744 GMT. It earlier hit a high of $1,303.38 an ounce, its best since May 31. US gold futures for August delivery rose 0.4 percent to $1,306 per ounce.
To Read Full Story CLICK HERE - https://www.ndtv.com
No comments:
Post a Comment