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

Gold prices fall to two-week low

LiveMint logoLiveMint 26-04-2017 PTI

Mumbai: Gold extended its losses for the third straight session and fell to a two-week low at the bullion market on Wednesday amid subdued local buying interest.

Silver cracked below the Rs 41,000-mark by tumbling Rs 555 per kg owing to persistent speculative selling and reduced industrial demand. Standard gold (99.5 purity) dropped by Rs 205 to end at Rs 28,800 per 10 gram from Tuesday’s level of Rs 29,005.

Pure gold (99.9 purity) also dipped by a similar margin to finish at Rs 28,950 per 10 grams against Rs 29,155 previously. Silver (.999 fineness) also slumped by Rs 555 per kg to close at Rs 40,980 as compared to Rs 41,535 earlier.

Globally, gold recovered from a two-week low as speculators locked in some profit from recent losses, but some analysts expect further weakness due to easing political risks. Spot gold was up 0.1% at $1,264.40 at early trade. Earlier in the session, prices hit a low of 1,260.90, their weakest since 11 April. Spot silver was flat at $ 17.55 an ounce after hitting over one-month low of $17.49.

More From LiveMint

image beaconimage beaconimage beacon