You are here: Home » PTI Stories » National » News
Business Standard

Gold plunges Rs 430, silver hits over six-month low

Press Trust of India  |  Mumbai 

Gold extended its slide for the third straight session at the domestic bullion market here today as prices plunged Rs 430 following sustained selling by stockists and investors coupled with subdued local buying interest as well as bearish international markets.

Silver dropped to hit over six-month low by breaching Rs 41,000-mark on speculative sell-off and lack of industrial buying support.



Standard gold (99.5 per cent purity) dropped by Rs 430 to end at Rs 28,345 per 10 grams from Wednesday's closing level of Rs 28,775.

Pure gold (99.9 per cent purity) also moved down by a similar margin to Rs 28,495 per 10 grams as compared to Rs 28,925 earlier.

Silver (.999 fineness) slumped by Rs 755 to conclude at Rs 40,710 per kg as against Rs 41,465 previously. The level has not been seen since June 9, 2016.

Globally, gold fell to its lowest since February, extending losses after its biggest monthly decline in more than three years, as a surge in prices boosted bond yields, denting interest in non-yielding gold as an alternative investment.

Spot gold was down 0.4 per cent at USD 1,168.27 an ounce in early European trade while US gold futures for February delivery were down USD 4 an ounce at USD 1,169.90.

Silver was 0.7 percent lower at USD 16.35 an ounce.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Gold plunges Rs 430, silver hits over six-month low

Gold extended its slide for the third straight session at the domestic bullion market here today as prices plunged Rs 430 following sustained selling by stockists and investors coupled with subdued local buying interest as well as bearish international markets. Silver dropped to hit over six-month low by breaching Rs 41,000-mark on speculative sell-off and lack of industrial buying support. Standard gold (99.5 per cent purity) dropped by Rs 430 to end at Rs 28,345 per 10 grams from Wednesday's closing level of Rs 28,775. Pure gold (99.9 per cent purity) also moved down by a similar margin to Rs 28,495 per 10 grams as compared to Rs 28,925 earlier. Silver (.999 fineness) slumped by Rs 755 to conclude at Rs 40,710 per kg as against Rs 41,465 previously. The level has not been seen since June 9, 2016. Globally, gold fell to its lowest since February, extending losses after its biggest monthly decline in more than three years, as a surge in oil prices boosted bond yields, denting ... Gold extended its slide for the third straight session at the domestic bullion market here today as prices plunged Rs 430 following sustained selling by stockists and investors coupled with subdued local buying interest as well as bearish international markets.

Silver dropped to hit over six-month low by breaching Rs 41,000-mark on speculative sell-off and lack of industrial buying support.

Standard gold (99.5 per cent purity) dropped by Rs 430 to end at Rs 28,345 per 10 grams from Wednesday's closing level of Rs 28,775.

Pure gold (99.9 per cent purity) also moved down by a similar margin to Rs 28,495 per 10 grams as compared to Rs 28,925 earlier.

Silver (.999 fineness) slumped by Rs 755 to conclude at Rs 40,710 per kg as against Rs 41,465 previously. The level has not been seen since June 9, 2016.

Globally, gold fell to its lowest since February, extending losses after its biggest monthly decline in more than three years, as a surge in prices boosted bond yields, denting interest in non-yielding gold as an alternative investment.

Spot gold was down 0.4 per cent at USD 1,168.27 an ounce in early European trade while US gold futures for February delivery were down USD 4 an ounce at USD 1,169.90.

Silver was 0.7 percent lower at USD 16.35 an ounce.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Gold plunges Rs 430, silver hits over six-month low

Gold extended its slide for the third straight session at the domestic bullion market here today as prices plunged Rs 430 following sustained selling by stockists and investors coupled with subdued local buying interest as well as bearish international markets.

Silver dropped to hit over six-month low by breaching Rs 41,000-mark on speculative sell-off and lack of industrial buying support.

Standard gold (99.5 per cent purity) dropped by Rs 430 to end at Rs 28,345 per 10 grams from Wednesday's closing level of Rs 28,775.

Pure gold (99.9 per cent purity) also moved down by a similar margin to Rs 28,495 per 10 grams as compared to Rs 28,925 earlier.

Silver (.999 fineness) slumped by Rs 755 to conclude at Rs 40,710 per kg as against Rs 41,465 previously. The level has not been seen since June 9, 2016.

Globally, gold fell to its lowest since February, extending losses after its biggest monthly decline in more than three years, as a surge in prices boosted bond yields, denting interest in non-yielding gold as an alternative investment.

Spot gold was down 0.4 per cent at USD 1,168.27 an ounce in early European trade while US gold futures for February delivery were down USD 4 an ounce at USD 1,169.90.

Silver was 0.7 percent lower at USD 16.35 an ounce.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard