Gold Prices Fall On Weak Global Cues: 5 Things To Know

Gold prices on Monday fell by Rs 55 to Rs 34,225 per ten grams at the bullion market. The yellow metal tracked a weak trend overseas amid tepid demand from local jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver also followed suit and weakened by Rs 150 to Rs 41,100 per kg owing to reduced offtake by industrial units and coin makers. Traders attributed the decline in gold prices to a weak trend overseas and easing demand from jewellers at the domestic markets.

Here are key things to know about gold, silver prices:  

1. In Delhi, gold of 99.9 per cent and 99.5 per cent purity moved down by Rs 55 each to Rs 34,225 and Rs 34,075 per ten gram, respectively.    

2. Sovereign gold, however, remained flat at Rs 26,100 per piece of eight grams.

3. Globally, gold prices eased on Monday as uncertainties around US-China trade tensions made the dollar buoyant, taking sheen off the metal's safe-haven appeal even as investors were worried about a slowdown in global economic growth, reported news agency Reuters.

4. Spot gold fell 0.2 per cent to $1,311.22 per ounce in intraday trdae, while US gold futures declined 0.3 per cent to $1,314.90 per ounce.    

5. In tandem with gold, silver ready declined by Rs 150 to Rs 41,100 per kg and weekly-based delivery by Rs 118 to Rs 39,987 per kg. Silver coins however continued to be traded at last level of Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

(With agency inputs)