Continuous decline in the price of gold for the fourth consecutive business session has been recorded. Gold prices fell by Rs 150 to Rs 32,470 per 10 grams in the national capital on Friday due to soft demand from jewelers at the global level. According to the All India Sarafa Association, however, the price of silver remained steady at Rs 37700 per kg.
According to market sources, the pressure on gold prices due to the US Federal Reserve's decision to keep interested rates unchanged and sluggish demand from local jewelers amid a weak trend overseas. Globally, the value of gold in New York was $ 1,270.60 per ounce. At the same time, the price of Chadhi remained steady at $ 14.70 per ounce.
Gold has dropped by Rs 380 in the last three trading sessions. In the national capital, 99.9 percent and 99.5 percent purity, gold prices fell by Rs 150 each to Rs 32,470 and Rs 32,300 per 10 gram respectively. However, the price of guineas remained steady at Rs 26,400 per piece of 8 grams.
On the other hand, silver ready remained steady at Rs 37,700 per kg on reduced offtake by stockists, while silver, on the weekly off, lost Rs 66 to Rs 36,308 per kg. On the other hand, silver coins continued to be steady at Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces.
