Domestically, traders attributed the fall in gold prices to sluggish demand from local jewelers amid weak trend abroad. Globally, Comex gold is trading 0.07 percent lower at $2522.90 an ounce. The future price of gold will largely depend on the US central bank’s decision to cut interest rates.
Gold prices in the national capital on Monday fell by Rs 700 to Rs 73,500 per 10 grams amid a fall in the prices of precious metals in global markets. On Friday, the yellow metal closed at Rs 74,200 per 10 grams. According to the All India Sarafa Association, like gold, the price of silver also fell by Rs 2,000 to Rs 83,800 per kg on Monday due to weak demand from industrial units and coin makers. Silver had closed at Rs 85,800 per kg in the previous session.
Domestically, traders attributed the fall in yellow metal prices to sluggish demand from local jewelers amid weak trend overseas. Globally, Comex gold is trading 0.07 per cent lower at $2,522.90 an ounce.
