Gold Prices Fall On Sluggish Buying By Jewellers: 5 Things To Know

Gold Silver Prices Rate December 7 Gold Prices Fall On Sluggish Buying By Jewellers

Sovereign gold held steady at Rs 24,900 per piece of 8 gram.

Gold prices on Friday slipped by Rs 20 to close at Rs 32,100 per 10 gram in the bullion market, reported Press Trust of India (PTI). Subdued demand from local jewellers amid flat global market pulled down gold prices, traders were quoted as saying in the PTI report. Silver, on the other hand, gained Rs 75 to close at Rs 37,700 per kg on higher demand from industrial units and coin makers. On Thursday, gold prices rose by Rs 170 to close at Rs 32,120 per 10 gram at the bullion market.

(Also read: How Good Is Gold This Wedding Season? Key Points To Plan Your Investment)

Here are 5 things to know about gold prices, silver rates:

1. In the national capital, gold of 99.9 per cent and 99.5 per cent purities fell by Rs 20 each to close at Rs 32,100 and Rs 31,950 per 10 gram, respectively. 

2. Sovereign gold held steady at Rs 24,900 per piece of 8 gram. 

3. Globally, gold remained almost flat at $1,238.80 an ounce and silver was near unchanged at $14.44 an ounce in New York. “Traders are focusing on US nonfarm payrolls data which will come later in the day along with US unemployment rate. Hence, we expect the evening session to be volatile. Any uptick in nonfarm payrolls or unemployment rate will push prices higher,” said Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Commodities.

4. Silver ready rose by Rs 75 to Rs 37,700 per kg, while weekly-based delivery fell by Rs 44 to Rs 37,206 per kg. 

5. Silver coins maintained the previous levels at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces. (With inputs from agencies)

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