Gold Silver Prices Plunge on Global Cues

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Gold Silver PricesGold Silver Reports — Gold Silver prices declined by Rs220 per 10 grams at the bullion market on Thursday on poor offtake by investors amid bearish global cues. Silver also tumbled by Rs600 per kg due to poor demand by industrial units and coin makers.

Standard gold (99.5 purity) dropped by Rs220 to end at Rs29,580 per 10 grams from Wednesday’s closing level of Rs29,800. Pure gold (99.9 purity) also moved down by a similar margin to Rs29,730 per 10 grams as compared to Rs29,950 earlier. Silver (.999 fineness) dipped by Rs600 to conclude at Rs39,265 per kg as against Rs39,865 previously.  

Globally, gold fell to its lowest in nearly four weeks as the US Federal Reserve signalled it was on track to raise interest rates again in December, driving the dollar to two- month highs versus the yen.

Read More: That Glitter in India May Not Be Gold

Spot gold was down 0.5% at $1,295.51 an ounce at early trade. Among other precious metals, silver was down 0.9% at $16.97 an ounce. — Neal Bhai Reports

Gold Silver Prices Plunge on Global Cues | Neal Bhai Reports | Gold Silver Reports