BULLION UPDATE :
Gold prices had gained Rs 100 yesterday, snapping a two-day fall. Prices of gold of 99.9% and 99.5% purity remained unchanged at Rs 31,850 and Rs 31,700 per 10 gram, respectively. Sovereign gold too remained steady at Rs 24,800 per piece of 8 gram.
Gold prices today remained steady below Rs 32,000 mark while silver rates declined. Gold prices today ended at Rs 31,850 per 10 gram.
However, silver rates fell by Rs 150 to Rs 37,300 per kg owing to lower demand from industrial units.
On the other hand, silver ready went down by Rs 150 to Rs 37,300 per kg and its weekly-based delivery fell by Rs 274 to Rs 36,035 per kg.
Silver coins continued to be traded at the previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.
Globally, gold prices inched lower today as the US dollar held firm. Spot gold inched 0.1% lower to $1,220.97 per ounce while US gold futures were down 0.2% at $1,220.2 an ounce.
Globally, gold price have lost over 10% from their April peak as investors turned to the dollar as a safe haven with the trade war unfolding against a backdrop of higher US interest rates.
TECHNICAL DEPARTMENT
TRADE MAX INDIA