Gold futures rise by Rs 120 | Live Commodity Tips
The weak trend in the global market and the dull
demand of local jewelers has made gold cheaper. Gold prices fell by Rs 120
to Rs 32,200 per 10 grams in the bullion market today. Silver prices also
dropped by Rs 150 to Rs 40,300 per kg on reduced demand from industrial units
and quin makers.
 |
| Live Commodity Tips |
The reason for
this is lethargy
Traders said that with the dollar being stronger than some
currency, there was a weak global trend due to the decrease in gold demand as a
safe investment. In addition, the weak demand of local jewelers in the
domestic market came down to gold prices. Gold in Singapore, which
normally sets price trend on the domestic front, fell by 0.43 per cent to $
1,316.90 an ounce, while silver dropped 0.36 per cent to $ 16.40 an
ounce.
On Saturday,
the
National Capital of 99.9 per cent and 99.5 per cent purity fell by Rs
120-120 to Rs 32,200 and Rs 32,050 per 10 grams respectively. There was an
increase of Rs 110 on Saturday in gold. However, the price of Guinness
remained steady at Rs 24,800 per unit of eight grams
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