Gold prices Slip after Hitting New Record High, Silver Rates Decline

Gold / Silver

Gold / silver prices today tumbled after they hit record highs recently. In spot markets, gold prices today slumped ₹233 to ₹37,945 per 10 gram in Delhi markets, Press Trust of India reported, citing All India Sarafa Association.

Silver rates tumbled ₹690 to ₹44,310 per kilogram. In Delhi, gold of 99.9% and 99.5% purity today declined by ₹425 each to ₹37,945 and ₹37,775 per 10 gram, respectively. Silver ready today plunged ₹690 to ₹44,310 per kilogram, while weekly-based delivery price plummeted by ₹1,050 at ₹43,230 per kg.

Read More : MCX Gold (Oct) Hit New Life Time High of Rs 38,488

On MCX, October gold futures were flat at ₹37,750 per 10 grams but sharply off record highs of ₹38,666, hit on Tuesday. Similarly, silver contracts on MCX were steady at ₹43,146 per kg, significantly off recent highs of ₹44,584.

In global markets, gold prices slumped 2% on Tuesday, reversing earlier gains, after the US said it would delay tariffs on some Chinese products and on news that both sides agreed to continue trade talks.

Silver rates also fell sharply.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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