Gold price falls ₹150 to ₹38,905 per 10 gm on weak demand

September 17, 2019

New Delhi-India (Sept 17)  Gold prices declined by ₹150 to ₹38,905 per 10 gram in the bullion market here on Tuesday due to weak demand, according to HDFC Securities.

Likewise, silver also fell ₹290 to ₹48,028 per kilogram from Monday’s closing price of ₹48,318 per kilogram, it said.

HDFC Securities senior analyst (commodities) Tapan Patel said gold prices for 24 Karat in Delhi was trading down by ₹150 due to weak spot demand despite fall in rupee.

On Monday, gold prices closed at ₹39,055 per 10 gram in the national capital.

In the international market, gold was trading lower at $1,497 an ounce in New York and silver was also quoting down at $17.81 per ounce.

“International gold prices pared previous gains after rallying on geopolitical risk. Gold prices have maintained the narrow trading range awaiting development from U.S.-China trade talks and U.S. FOMC rate decision,” he added.

Meanwhile, the rupee fell 28 paise to 71.88 against the U.S. dollar in early trade on Tuesday.


Silver Phoenix Twitter                 Silver Phoenix on Facebook