Moneycontrol
Last Updated : Nov 10, 2018 03:58 PM IST | Source: PTI

Gold prices soften on lacklustre demand, global cues

Silver too lost Rs 400 at Rs 38,000 per kg on reduced offtake by industrial units and coin makers.

Gold prices continued decline for the fourth straight day, falling by Rs 180 to Rs 32,070 per 10 grams at the bullion market on November 10 on easing demand from local jewellers amid a weakening trend overseas.

Silver too lost Rs 400 at Rs 38,000 per kg on reduced offtake by industrial units and coin makers.

Traders said gold prices took a hit owing to considerable fall in demand from local jewellers coupled with a weak trend overseas as the firmer dollar eroded appeal of the precious metal as a safe haven investment.

In the international market, gold ended lower at $1,210.40 an ounce and silver at $14.25 an ounce in New York on November 9.

In the national capital gold of 99.9 per cent 99.5 per cent purity plunged by Rs 180 each to Rs 32,070 and Rs 31,920 per 10 grams, respectively. The precious metal had lost Rs 440 in the previous three days.

Sovereign, however, remained unaltered at Rs 24,700 per piece of 8 gram in limited deals.
First Published on Nov 10, 2018 03:56 pm
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