You are using an older browser version. Please use a supported version for the best MSN experience.

Gold prices extend losses on fall in demand

LiveMint logoLiveMint 20-06-2017 PTI

Mumbai: Gold prices moved down further for the fourth straight day at the domestic bullion market in Mumbai bullion market on Tuesday on low demand from local jewellers and retailers even as the metal strengthened overseas.

Silver prices followed suit and lost another Rs215 per kg on lack of buying support from industrial units.

Standard gold (99.5 purity) fell by Rs 15 to finish at Rs 28,550 per 10 grams from Monday’s closing level of Rs 28,565.

Pure gold (99.9 purity) also moved down by a similar margin to settle at Rs 28,700 per 10 grams compared to Rs 28,715.

Silver (.999 fineness) dipped by Rs 215 to conclude at Rs 38,560 per kg against yesterday’s level of Rs 38,775.

Globally, gold prices rose after hitting a five-week low as the dollar steadied after reaching a 3-week peak following hawkish comments from an influential US Federal Reserve official.

Spot gold was up 0.3% at $1,246.26 per ounce in early trade, after earlier touching a low of $1,242.61 an ounce, the weakest since May 17.

Silver rose 0.9 per cent to USD 16.60. In the previous session, it touched USD 16.44, its weakest since May 18.

More From LiveMint

image beaconimage beaconimage beacon