Gold loses sheen: Yellow metal prices fall to Rs 32,250 on weak demand

Gold prices, silver, Sovereign gold, siver prices, dhamteras, DhanterasThe gold of 99.9 percent and 99.5 percent purity priced at Rs 32,250 and Rs 32,100 per 10 grams, respectively in Delhi on Friday. (Reuters)

Gold demand drops: Amid weak demand, the gold prices on Friday fell to Rs 32,250 per 10 grams, down by Rs 150, in the third straight session loss for precious metal. The silver rates too declined by Rs 600 to Rs 38,400 per kg today. On Thursday, the bullion market remained closed on account of  ‘Govardhan Pooja’. The yellow metal traded at $1,219.51 an ounce and silver at $14.40 an ounce in New York.

The lower demand and weak global trend led to fall in the bullion prices, traders told PTI. The gold of 99.9 percent and 99.5 percent purity priced at Rs 32,250 and Rs 32,100 per 10 grams, respectively in Delhi on Friday. During the special ‘Diwali Muhurat’ trading at the bullion market on Wednesday, the yellow metal had declined by Rs 210 to Rs 32,400 per 10 grams.

Also read: Share market HIGHLIGHTS: Sensex closes 79 points lower, Nifty at 10,585; Yes Bank gains 5%, Airtel top loser

Meanwhile, the BSE Sensex closed trade 79.13 points or 0.22 percent lower at 35,158.55 points. Reliance Industries, Infosys, TCS, ITC, HDFC Bank and SBI together wiped off nearly 200 points from the Sensex. However, the market breadth remained slightly bullish as 1,339 companies advanced compared to 1,199 declines. On the National Stock Exchange, the broader Nifty 50 fell by 13.20 points or 0.12 percent to end at 10,585.20 points. The Bank Nifty closed 0.13 percent higher.

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Source: Financial Express