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Gold halts 2-day rise, sheds Rs 65 on lower demand

Author: PTI/Tuesday, September 4, 2018/Categories: Gold

Gold halts 2-day rise, sheds Rs 65 on lower demand

Mumbai - After rising for two days, gold prices weakened by Rs 65 to Rs 30,185 per 10 gram at the bullion market today on easing demand by local jewellers.

Silver prices, too, lost Rs 225 to Rs 36,910 per kg due to reduced offtake by industrial units and coin makers.

Standard gold (99.5 per cent purity) fell by Rs 65 to end at Rs 30,185 per 10 gram from last Friday's level of Rs 30,250.

Pure gold (99.9 per cent purity) also eased by the same margin to close at Rs 30,335 per 10 gram against Rs 30,400 previously.

Silver (.999 fineness) slipped by Rs 225 to conclude at Rs 36,910 as against Rs 37,135 previously.

Globally, gold prices steadied as the dollar held near a one-week high on worries over an escalation in trade conflicts between the United States and its trading partners.

Spot gold was mostly unchanged at USD 1,200.47 an ounce in an early trade.

Spot silver was steady at USD 14.48 an ounce, after earlier falling to its lowest in more than two weeks at USD 14.37.

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