Gold Prices Break 3-Day Rising Streak

Gold prices lowered by Rs. 70 to Rs. 32,050 per 10 grams at the bullion market on Saturday, snapping a three-day rising streak on the back of weak global cues.

Silver also dropped by Rs. 100 to Rs. 39,400 per kg on reduced offtake by industrial units and coin makers, it further said.

Gold prices fell 0.50 per cent to $1,218.50 an ounce in New York on Friday. In Delhi, gold of 99.9 per cent and 99.5 per cent purity fell by Rs. 70 each to Rs.32,050 and Rs. 31,900 per 10 grams, respectively. The precious metal had gained Rs.470 in the previous three sessions.

Sovereign gold, however, remained unaltered at Rs. 24,600 per piece of eight grams in limited deals. Tracking gold, silver ready slipped by Rs. 100 to Rs. 39,400 per kg, while weekly-based delivery edged higher by Rs. 10 to Rs. 38,915 per kg.

Silver coins, however, were unaltered at Rs. 75,000 for buying and Rs.76,000 for selling of 100 pieces.

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