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Sovereign, however, remained unchanged at Rs 24,700 per 8-gram piece in limited transactions
Gold prices continued to decline for the fourth day in a row, dropping from Rs 180 to 32,070 for 10 g at the bullion market Saturday easing demand from local jewelers in a context of weakening abroad, reported the press agency Press Trust of India (PTI). The money also lost 400 rupees, to 38,000 rupees per kilogram, thanks to a reduction of the levies by the industrial units and the parts manufacturers. Traders said gold prices had fallen sharply due to the drastic drop in demand from local jewelers and the weakness of the trend abroad, as the stronger dollar has eroded oil prices. Attractiveness of the precious metal as investment refuge.
Here are five essential things to know about gold. , price of money:
1. Globally, gold fell by more than 1%, its lowest level in a month on Friday, when the US dollar strengthened after the Federal Reserve reaffirmed its policy of monetary tightening. considered a negative factor for nonproductive bullion, reported the Reuters news agency. The spot gold price fell 1.3% to $ 1,207.78 an ounce for intraday trade, after reaching its lowest level since October 11 at $ 1,206.13. . He was on track to finish the week down 2%, the biggest weekly drop since the week of August 17th.
2. In Delhi, 99.9% gold, with a purity of 99.5%, plunged from Rs. 180 to Rs. 32,070 and Rs. 31,920 per 10 grams, respectively. The precious metal had lost 440 rupees in the previous three days.
3. Sovereign, however, remained unchanged at Rs 24,700 per 8-gram coin in limited transactions.
4. Along with the gold, the loan money dropped from 400 to 38 thousand rupees per kg and weekly deliveries from 690 to 36,880 rupees / kg.
5. Silver coins are however maintained at Rs 75,000 for the purchase and Rs 76,000 for the sale of 100 pieces.
(With agency entries)
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