(Pooja Dubey, Intern Journalist) On Thursday, gold prices fell in India for the fourth consecutive day. According to HDFC Securities, gold prices fell by Rs 485 to Rs 50,418 per 10 grams in the national capital amid weak international trends.
Silver fell by Rs 2,081 in the previous trade, with the precious metal closing at Rs 50,903 per 10 grams. Silver dropped by Rs 2,081 to Rs 58,099 per kg. It was priced at Rs 60,180 per kg yesterday.
HDFC Securities senior analyst Tapan Patel said that the prices of 24-carat gold in Delhi fell for the fourth consecutive day, which is Rs 485. In the international market, gold closed at US $ 1,854 an ounce and silver at the US $ 22.12 an ounce.
Further, Patel said that the slowdown in gold prices is continuing in Europe due to a slowdown in general economic activities. In addition, the fall in the rupee also affected the price. Today, the rupee fell 32 paise to close at 73.89 against the US dollar. The dollar index, showing dollar position, gained 0.04 percent to 94.42.
Holding in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, fell 0.87 percent to 1,267.14 tonnes on Wednesday. Gold imports in India increased to $ 3.7 billion in August from $ 1.36 billion in the same month last year. India is the second-largest buyer of gold after China. Gold attracts 12.5 percent import duty and three percent GST on gold in India.
Leave a Reply