Prices tumbled to RS 410 to RS 26,690 per 10 grams. Silver declined to RS 550 to 38,000 per Kg. Gold weakened in international markets due to the Federal Reserve indicated that they would raise the interest rate in order make dollar stronger. Gold for delivery in April contracts went down by Rs 149 and June contracts by Rs 136.

Gold plunged by 0.5 per cent

 

Market generally regulates the trends for the domestic market. Gold plunged by 0.5 per cent to USD 1,192.50 an ounce and silver by 0.3 per cent to USD 16.90 an ounce. In the national capital, gold of 99.9 per cent purity recorded fall of Rs 410 to Rs 26,690 per 10 grams and 99.5 per cent pure gold went down by Rs 360 to Rs 26,540. Sovereign, remained unchanged at Rs 23,700 per piece of eight grams.Prices of silver coins dropped Rs 1,000 to Rs 56,000 for buying and Rs 57,000 for selling of 100 pieces.

Demand from jewellers

Image result for jewellery

Bullion merchants had stated that " apart from slackened demand from jewellers, a weak global trend after Federal Reserve signalled that interest rates may rise this year in the world's biggest economy, led to fall in gold and silver prices at domestic markets "


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